Egypt, also officially known as Arabia Republic of Egypt, is a transcontinental country spread between Africa and Asia and known for its ancient history. Egypt is among top 10 remittance receivers of the world. In year 2015, Egypt recovered to some extent from its financial crisis after 2013 and received $ 20.40 billion. The largest remittance sender of Egypt is Saudi Arabia with over $7 billion sent in 2015.
Egyptian workforce is mostly spread in the mediterranean reason in arab countries. They choose modern methods to send money to their home country. If you need to transfer money to Egypt, you should leverage on remittance comparison services to find the cheapest option.
Exchange Rate IQ is such a unified platform that lets you explore options to send money to Egypt and compare them for exchange rate, fee, transfer time etc. It also provides an estimated value in EGP for the amount being sent. When you have all the required information available at a single pag
Current Exchange Rate(Mid Market) :- 17.7045 EGP/USD
is a currency exchange rate. Usually traders in currency exchange market have two exchange rates -
- Selling exchange rate - at which sellers are willing to sell a particular currency and
- Buying exchange rate - at which buyers are willing to buy a particular currency.
Mid-market rate is the mid-point of these two rates. This is the most transparent and the most accurate exchange rate. It is also known as “Interbank Rate” or “Spot Rate” or “Real Exchange Rate”. This is the rate which independent sources like Reuter, Google etc show.