Shaimaa Hefzy

A quick report covering the most important economic news from Egypt, updated several times throughout the day.

Gold prices

During Thursday’s trading, the average selling price of a gram of 21-karat gold, the most popular and used in jewelry, was 5,615 Egyptian pounds, while the price of 18-karat gold – which has recently seen a surge in popularity in Egypt due to its lower price and weight in gold jewelry – was around 4,815 Egyptian pounds per gram, according to data from an online gold price platform.

21-karat and 18-karat gold are used in gold jewelry sold in gold trading shops.

The price of a gram of 24-karat gold used in gold bullion – which is usually bought as an investment tool – recorded about 6415 Egyptian pounds per gram.

Dollar

The official dollar exchange rate was recorded at around 47.5 Egyptian pounds for buying and 47.6 Egyptian pounds for selling, according to data from local banks.

In the parallel market, the average price was around 46.90 Egyptian pounds for buying and 47.6 Egyptian pounds for selling, according to traders and mobile applications.

(Prepared by: Shaimaa Hefzy, for contact: zawya.arabic@lseg.com)

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