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This exchange value of 97.5 piastres to the pound sterling continued until the early 1960s when Egypt devalued slightly and switched to a peg to the United States dollar, at a rate of E£1 = US$2.3. The Egyptian pound was also used in Anglo-Egyptian Sudan between 1899 and 1956, and Cyrenaica when it was under British occupation and later an ...
This exchange value of 97.5 piastres to the pound sterling continued until the early 1960s when Egypt devalued slightly and switched to a peg to the United States dollar, at a rate of E£1 = US$2.3. The Egyptian pound continued with its exchange rate of £E = £1 0s 6d sterling until the beginning of the 1960s.
As the demand pressure from exiting foreign investors eases, the dollar exchange rate against the Egyptian pound is expected to decline. It stands at E£7 per US$1 as of 18 June 2013. Due to the rising power of the US dollar, as of January 2015 one dollar equals E£7.83 .
The Egyptian pound is sliding against foreign currencies, inching nearer to 50 per U.S. dollar after a recent hike in subway fares and fuel prices. The currency reached 49.16 to the U.S. dollar ...
In June and July, the Egyptian pound ranged between 47 and 48 to the dollar after it floated in March and lost around 60% of its value, down as low as around 30 to the dollar. The new exchange rates come a week after the International Monetary Fund (IMF) completed its third financial review of Egypt, allowing the government to draw $820 million.
The currency weakened to beyond 50 Egyptian pounds to the dollar - far beyond previous records - from about 30.85 pounds, a level Egypt has for months tried to defend. It closed at 49.4 to the dollar.
Egyptian Exchange البورصة المصرية (Egyptian Arabic) Type: Stock exchange: Location: Cairo, Egypt: Founded: 1883: Key people: Rami El-Dokany (Chairman) Currency: Egyptian pound: No. of listings: 266: Market cap: US$37.5 billion (E£1.8 trillion) Volume: E£2.9 billion: Indices: EGX 30 EGX 50 EGX 70 EGX 100: Website: egx.com
Formulates and implements Egypt's banking policy, monetary policy and credit policy; Issues banknotes; Manages gold and the foreign exchange reserves of the Arab Republic of Egypt. Regulates and manages Egypt's presence in the foreign exchange market; Supervises the national payments system; Manages Egypt's public and private external debt.
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