Hello, my team is going to ICPC World Finals in Luxor and we were wondering what the money situation is like.
We've heard that in Egypt (much like in my country, Argentina) there is a parallel currency market that offers much more favorable rates for those with foreign currencies. So, we have some specific questions (though any other information is very much welcome).
- Is it easier to get good rates for US Dollars or Euros?
- Where can we find the up to date official rate?
- Where can we find up to date rates for the parallel market?
- Where in Luxor can we exchange USD or EUR for EGP at the official rate?
- Where in Luxor can we exchange USD or EUR for EGP at parallel market rates?
Thank you, everyone!
buci messi
2 months ago, 1 USD == 33 EGP (official price) and 72 (Black market price), but now it's 47.5 (official) and 47.99 (Black market) so the difference is not that huge compared to the risk of exchanging money in the black market (If you got caught, you'd be competing in jail :").
Also, the black market has no fixed price, you can find some people that buy your USD with 60 EGP but money is not an issue in Egypt since it's very cheap so my advice is to exchange from the bank and focus on having a good time in the country.
Good to know. Thank you!
This problem has been solved and parallel market have the same price now
now the USD = 47.5 egp in both markets
I hope you will have a nice time in Egypt <3