USD approaches new high of EGP 57 in Egypt's parallel market

Ahram Online , Sunday 14 Jan 2024

The USD has approached a new high of EGP 57 in the parallel market in Egypt, while gold prices started the week with EGP 100 jumps in the gram price of different carats.

Egyptian Pound, US Dollar notes.
Egyptian Pound, US Dollar notes.
 

The Egyptian Exchange (EGX) indices started the week in the green, and the market cap gained EGP 37 billion. 

Currencies
 

In the parallel market, the USD rose to a new high of EGP 56.638 from EGP 55.28 last week.

The official EGP/USD exchange rate remains stable at EGP 30.8272 for buying and EGP 30.9586 for selling.

The euro is valued at EGP 33.7527 for purchase and EGP 33.9089 for sale.

The Saudi riyal is priced at EGP 8.2197 for buying and EGP 8.2552 for selling.

*Sources: The Central Bank of Egypt's official exchange rates, the Egyptian Exchange, Egypt Gold Price Today, and parallelrate.org.

Stock market
 

The EGX30 index rose by 1.79 percent, settling at 25,975 points.

The EGX70 index jumped 3.10 percent, ending at 6,140 points, and the EGX100 index surged 2.78 percent, closing at 8,715 points.

Market cap gained around EGP 37 billion to end at EGP 1,817 billion.

The top performer in the market on Sunday was Misr National Steel (Ataqa), which surged 19.93 percent to end at EGP 3.61.

However, the worst performer today was El-Nile Co. for Pharmaceuticals and Chemical Industries, which dropped 5.57 percent to close at EGP 78.47.

Gold purchase prices
 

The purchase price of 24-carat gold rose by EGP 115 to EGP 3,634 per gram on Sunday, compared to last week’s prices.

The 21-carat gold price increased by EGP 100 to reach EGP 3,280 per gram, and the 18-carat gold price went up by EGP 85 to EGP 2,811 per gram.

The price of the gold pound reached EGP 26,240 for purchase, EGP 800 higher than last week.

*Prices reflect updates recorded as of midday.

Short link: