File Photo: A shop window of jewellery store in one of the streets of Cairo, Egypt. Al-Ahram
The price of 14K gold rose on Thursday from EGP 761 per gram on Wednesday to EGP 801.
18K gold rose on Thursday to 1,026 per gram up from EGP 975 per gram on Wednesday.
The prices of 21K gold rose from EGP 1,138 per gram on Wednesday to EGP 1,197 per gram on Thursday.
24K gold increased from EGP1,368 per gram to EGP 1,300 per gram.
The prices of the gold pound also jumped to EGP 9,576 on Thursday from EGP 9,104 on Wednesday.
These are the latest prices released by the Egyptian Gold and Jewelry Trade Division in the Egyptian Federation of Egyptian Chambers of Commerce.
On Thursday afternoon, according to an average of exchange rates at various major banks in Egypt, the US dollar exchange rate registered EGP 23 up from EGP 19.7 on Wednesday.
The new value comes as the Central Bank of Egypt (CBE) adopts a flexible exchange-rate regime.
The Central Bank of Egypt (CBE) has also raised interest rates by 200 basis points to reach 13.25 percent, 14.25 percent, 13.75 percent, and 13.57 percent for the overnight deposit rate, the overnight lending rate, the rate of the main operation, and the discount rate, respectively.
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