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The price of the Qatari riyal today… a strong rise with the support of the World Cup

Economie

The price of the Qatari riyal today… a strong rise with the support of the World Cup

The price of the Qatari riyal increased today in Egypt during Thursday morning trading, December 1, 2022, at the Central Bank, commercial banks, and money changers.

The demand for the Qatari riyal currency increases during the months of November and December, due to the holding of the World Cup (FIFA Qatar 2022), which is watched by about 5 billion fans around the world, including those who wish to travel to Qatar to watch the matches of the teams participating in the tournament.

On September 14, Egypt signed 3 memorandums of understanding with Qatar, including a memorandum between Egypt’s Sovereign Fund for Investments and Development and the Qatar Investment Authority.

A memorandum of understanding was also signed in the field of social affairs between the Ministry of Social Solidarity and the Qatari Ministry of Social Development, and a memorandum of understanding regarding cooperation in the field of ports between Egypt and Qatar.

The price of the Qatari riyal against the Egyptian pound

The price of the Qatari riyal increased today in Egypt, during the beginning of Thursday’s trading, December 1, 2022, to reach 6.68 pounds for purchase, and 6.76 pounds for sale.

The price of the Qatari riyal against the dollar

Regarding the price of the dollar against the Qatari riyal, the price of the dollar today, Thursday, December 1, 2022, recorded in banks about 3.64 riyals for every one dollar.

The Qatari riyal against the Saudi riyal

Regarding the conversion of the Qatari riyal into a Saudi riyal, the price of the Qatari riyal against the Saudi riyal today, Thursday, December 1, 2022, amounted to about 1.03 Saudi riyals for every one Qatari riyal.

Trade exchange between Egypt and Qatar

The data of the Central Agency for Public Mobilization and Statistics in Egypt showed an increase in the value of trade exchange between Egypt and Qatar, reaching $44.8 million during the past year 2021, compared to about $25.4 million recorded in 2020, an increase of 76.4%.

According to recent official data, the value of Egyptian exports to Qatar amounted to $4.5 million in 2021, compared to $395,000 in 2020, an increase of 1049%, while the value of Egyptian imports from Qatar amounted to $40.3 million during the past year, compared to $25 million. In 2020, an increase of 61%.

Regarding the most important commodity groups that Egypt exported to Qatar during the year 2021, they were furniture worth $1.4 million, machinery and electrical appliances worth $848 thousand, articles of iron or steel worth $632 thousand, tanning extracts worth $621 thousand, in addition to stone and cement products. At a value of 256 thousand dollars.

As for the most important commodity groups that Egypt imported from Qatar during the year 2021, they are: plastics and its products with a value of $31.6 million, organic chemical products with a value of $4.4 million, machinery and electrical appliances with a value of $3.7 million, as well as fuel and mineral oils with a value of $2.4 million, and non-chemical products. $2.2 million membership.

The value of remittances of Egyptians working in Qatar recorded $1.5 billion during the fiscal year 2020/2021, compared to $1.3 billion during the fiscal year 2019/2020, an increase of 14.3%, while the value of remittances from Qataris working in Egypt amounted to $1.8 million during the fiscal year 2020/2021, compared to about $2.8 million during the fiscal year 2019/2020, a decrease of about 34%.

The value of Qatari investments in Egypt amounted to about $507.9 million during the fiscal year 2020/2021, compared to about $678.3 million during the fiscal year 2019/2020, a decrease of 25.1%.

According to the data, the number of Egyptians residing in the State of Qatar, according to the mission’s estimates, reached about 141,000 Egyptians until the end of 2021.

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