The black market for the exchange rate of the Egyptian pound has become active again in Kuwait, after a long period of calm that began on January 17, in response to the recent floatation approved by the Central Bank of Egypt for the local currency. As a result, the official market reached a parity point for the exchange rate traded in the parallel market.
The exchange rate of the pound in Kuwait began to fluctuate again after the increasing talk about a new upcoming flotation of the Egyptian currency, so that the price offered by currency dealers recorded a margin less than 700 fils compared to exchange companies, equivalent to a decrease of 7 percent, which is a gradual expansion rate so far, as the exchange rate reaches Every 1,000 pounds in the official market is 10 dinars and 150 fils, compared to 9 dinars and 450 fils on the black market, reports Al-Rai daily.
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