In Egypt’s parallel market, the US dollar has reached a new high of EGP 57, while the price of gold experienced significant jumps at the beginning of the week. Various gold carat prices saw increases of EGP 100 per gram.
On a positive note, the Egyptian Exchange (EGX) indices started the week positively, with the market cap gaining EGP 37 billion.
The USD exchange rate in the parallel market rose to EGP 56.638, compared to EGP 55.28 last week. Meanwhile, the official exchange rate of EGP/USD remains stable at EGP 30.8272 for buying and EGP 30.9586 for selling.
Other currency rates include the euro, valued at EGP 33.7527 for purchase and EGP 33.9089 for sale, and the Saudi riyal, priced at EGP 8.2197 for buying and EGP 8.2552 for selling.
In terms of stock market performance, the EGX30 index showed a 1.79% surge, reaching 25,975 points. The EGX70 index jumped 3.10%, settling at 6,140 points, while the EGX100 index surged 2.78 percent, closing at 8,715 points. The market cap increased by approximately EGP 37 billion, reaching EGP 1,817 billion.
Misr National Steel (Ataqa) emerged as the top performer, experiencing a significant surge of 19.93 percent to end at EGP 3.61. Conversely, El-Nile Co. for Pharmaceuticals and Chemical Industries witnessed a decline of 5.57 percent, closing at EGP 78.47, making it the worst performer of the day.
Regarding gold prices, the purchase price of 24-carat gold rose by EGP 115, reaching EGP 3,634 per gram on Sunday compared to the previous week. The price of 21-carat gold increased by EGP 100 to EGP 3,280 per gram, while the 18-carat gold price went up by EGP 85 to EGP 2,811 per gram. Moreover, the price of a gold pound reached EGP 26,240 for purchase, marking an increase of EGP 800 compared to the previous week.
