Marketwatch: Parallel FX market, EGX indices, gold hit new record highs on Tuesday

Ahram Online , Tuesday 16 Jan 2024

The USD parallel market rate, EGX indices, and gold prices reached new record highs on Tuesday.

Gold coins and USD notes. AI-generated image. DALL-E by OpenAI.
Gold coins and USD notes. AI-generated image. DALL-E by OpenAI.


The EGX’s main index hit a new peak, approaching 27,000 points, while the gold pound coin jumped more than EGP 1,000 in one day.

The USD parallel market rate recorded an unprecedented high at EGP 58.92, while official market rates were almost the same as yesterday.

Stock market

The EGX30 index jumped 2.62 percent, settling at 26,938 points.

The EGX70 index grew 1.27 percent, ending at nearly 6,300 points, and the EGX100 index increased by 1.66 percent, closing at 8,955 points.

Market cap gained around EGP 45 billion to end at EGP 1,881 billion.

Ceramica Remas was the best performer in the market on Tuesday, jumping 20 percent to end at EGP 1.16.

The worst performer today was Iron and Steel for Mines and Quarries, which dropped 8.52 percent to close at EGP 3.33.


In the parallel market, the USD hit a new peak at EGP 58.92 on Tuesday, compared to EGP 57.15 yesterday.

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

The euro is valued at EGP 33.5739 for purchase and EGP 33.7294 for sale.

The Saudi riyal is priced at EGP 8.2190 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

Gold purchase prices

The purchase price of 24-carat gold surged EGP 165 to reach EGP 3,914 per gram on Tuesday.

The 21-carat gold price jumped EGP 145 to hit EGP 3,425 per gram, and the 18-carat gold price leapt EGP 125 to record EGP 2,936 per gram.

Similarly, the gold pound reached an all-time high at EGP 27,400 for purchase, after soaring EGP 1,160

*Prices reflect updates recorded as of midday.

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