| Time series key
|
BBEX3.A.EGP.USD.CA.AC.A04 |
| Unit
|
EGP |
| Dimension
|
one |
| Timespan
|
from
1992 to
2023 |
| Last update
|
12.01.2024 02:12:57 PM |
| |
|
| Methodology
|
Calculated on the basis of mid-month and month-end buying and selling rates. |
| Source
|
National Bank of Egypt, Cairo. |
| |
|
| Comment on
2022 |
On 21 March 2022, the Central Bank of Egypt devalued the Egyptian pound and published the following official exchange rates (buying/selling) before as well as after this measure: 20 March 2022: USD 1 = EGP 15.6484 / 15.7786 21 March 2022: USD 1 = EGP 18.1519 / 18.2884. Calculated using these rates, the Egyptian pound depreciated by 13.8% against the US dollar (calculated on the basis of the middle rates). With effect from 27 October 2022, the Central Bank of Egypt adopted a more flexible exchange rate regime. We recorded the following exchange rates (buying/selling): 26 October 2022: USD 1 = EGP 19.67 / 19.73 27 October 2022: USD 1 = EGP 22.85 / 22.95. Calculated using these exchange rates, the Egyptian pound experienced a devaluation of 14.0% against the US dollar (calculated on the basis of the middle rates). |
| Comment on
2016 |
On March 14, 2016, the Central Bank of Egypt decided to adopt a more flexible exchange rate regime. We recorded the following exchange rates (buying/selling): 29 February 2016: USD 1 = EGP 7.8300 / 7.8301 15 March 2016: USD 1 = EGP 8.9499 / 8.9500. Calculated using these exchange rates, the Egyptian pound experienced a devalution of 12.5% against the US dollar (on average). On 3 November 2016, the de facto peg of the Egyptian pound to the US dollar was abandoned. We recorded the following exchange rates (buying/selling) from the Central Bank of Egypt: 2 November 2016: USD 1 = EGP 8.8583 / 8.8800 3 November 2016: USD 1 = EGP 13.5277 / 14.2757. Calculated using these exchange rates, the Egyptian pound experienced a devalution of 36.2% against the US dollar (on average). |
| Comment on
2003 |
Exchange rate floated as from 29 January 2003. |
