Understanding the fluctuating exchange rate between the Saudi Riyal (SAR) and the Egyptian Pound (EGP) is crucial for many, particularly those with family ties or financial dealings between Saudi Arabia and egypt. This report provides a snapshot of the SAR/EGP exchange rates as of december 31, 2024, offering insights into both official and unofficial market values.
Exchange Rates in Egyptian Banks
The exchange rates varied across different banks in Egypt. Here’s a breakdown of the buy and sell rates observed in several prominent institutions:
- national Bank of Egypt: Buy: 13.49 EGP, Sell: 13.55 EGP
- banque Misr: Buy: 13.49 EGP, Sell: 13.56 EGP
- Bank of Alexandria: Buy: 13.50 EGP, Sell: 13.55 EGP
- Commercial International Bank (CIB): Buy: 13.51 EGP, Sell: 13.56 EGP
- Suez Canal Bank: Buy: 13.46 EGP, Sell: 13.56 EGP
- National Bank of Kuwait: Buy: 13.43 EGP, Sell: 13.57 EGP
black Market Rates
The unofficial, or black market, exchange rate presented a different picture. While these rates are not officially sanctioned, they often reflect alternative market dynamics.On December 31, 2024, the black market rates were approximately:
- Purchase: 13.38 EGP
- Sale: 13.65 EGP
It’s critically important to note that black market transactions carry inherent risks and are not recommended. Official channels offer greater security and transparency.
disclaimer: Exchange rates are constantly fluctuating. This information is for informational purposes only and should not be considered financial advice. always consult with a financial professional before making any currency exchange decisions.
This article provides a snapshot of the Saudi riyal to Egyptian Pound (SAR/EGP) exchange rates on December 31, 2024.
It outlines exchange rates observed across several prominent Egyptian banks:
National Bank of Egypt: Buy: 13.49 EGP, Sell: 13.55 EGP
Banque Misr: Buy: 13.49 EGP, Sell: 13.56 EGP
Bank of Alexandria: Buy: 13.50 EGP, Sell: 13.55 EGP
Commercial International Bank (CIB): Buy: 13.51 EGP, Sell: 13.56 EGP
Suez Canal Bank: Buy: 13.46 EGP, Sell: 13.56 EGP
National Bank of Kuwait: Buy: 13.43 EGP, Sell: 13.57 EGP
The article also mentions the unofficial or black market exchange rate for that day:
Purchase: 13.38 EGP
Sale: 13.65 EGP
It stresses that black market transactions come with risks and recommends using official channels for greater security and clarity.
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