Following the central bank’s decision to boost the interest rate by 200 basis points to bring the UAE dirham to its highest level versus the Egyptian pound, the price of the Egyptian pound declined today, Friday, October 28, 2022, during the daily transactions in the money market.
We provide you with the current exchange rate for the Emirati dirham in Egyptian banks as of 10/28/2022:
It should be noted that the Egyptian Central stated that the high interest rate will reflect the exchange rate of the Egyptian pound against foreign currencies with the sense of supply and demand factors within the framework of the flexible exchange rate system, which is called “flotation”..
Today, Friday, October 28, 2022, the exchange rate of the Egyptian Pound to the UAE Dirham
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