The UAE, thanks to its innovative and smart economic strategies, has become an important destination for investors from all over the world. In this context, the UAE always seeks to increase the strength of the dirham and the market’s confidence in it. The dirham enjoys relative stability compared to some other currencies and this reflects the strength of the UAE economy and that the UAE economy is not solely dependent on oil as some believe. Instead, the UAE has a multifaceted strategy to improve its economic strength, including a focus on innovation and developing sectors as diverse as tourism and technology. These developments will directly lead to a strengthening of the dirham and attract investors.
The appointment of Hassan Abdullah as the Governor of the Central Bank by the President of Egypt Abdel Fattah El-Sisi is an important news. But the question is, how has this appointment affected the stability of the Emirati dirham against the Egyptian pound?
The price of Dirham in Egyptian banks
- Bank of Alexandria: 8.38 pounds for buying and 8.42 pounds for selling.
- Faisal Islamic Bank: 8.36 pounds to buy and 8.39 pounds to sell.
- International Bank of Commerce: 8.38 pounds for buying and 8.42 pounds for selling.
- Qatar National Bank QNB: 8.37 pounds for buying and 8.42 pounds for selling.
- Credit Agricole Bank: 8.38 pounds for buying and 8.42 pounds for selling.
- Egyptian Gulf Bank: 8.38 pounds for buying and 8.42 pounds for selling.
- National Bank of Egypt Positions: On the other hand, the National Bank of Egypt, one of the largest banks in Egypt, recorded the price level of the dirham at 8.37 pounds for buying and 8.39 pounds for selling.
- A look at Bank Misrin: Figures at Bank Egypt showed similar stability at 8.37 pounds for buying and 8.39 pounds for selling.
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