Chambers of Commerce advises pilgrims to purchase 'Rial' before traveling to Saudi Arabia

Newspaper Title: Al Masry Elyoum

Newspaper Number:

Tuesday - 16 July 2013

Mohamed Al Abyad, head of the General Division of Exchange at General Federation of Chambers of

Commerce, said that the banks declared two days ago for providing riyals, which will be needed in

minor pilgrimage to Mecca during the holy month of Ramadan, in any amount.

He pointed out that Demand for Saudi riyals is few and he Demanded that Pilgrims should buy Saudi

riyals Before traveling to Saudi Arabia and not to buy dollar s from Egypt and exchange them from Saudi

Arabia with Saudi riyals, because Saudi riyals  are available in Egypt in very large quantities, and prices

are stable . The purchase price reached 188 pounds, and the selling price- 191 pounds.

Reda Awad - A board member of the General Division of exchange at  the Federation of Chambers of

Commerce called that Pilgrims should not buy dollars from Egypt and exchange them from Saudi Arabia

 in high rate with a commission of between 1% and 2%.

It is noteworthy that the market has seen remarkable stability in the exchange rates of the dollar, as

the price of buying from banks to 7 pounds, and the selling price of 7.4 pounds, while the price of

the dollar exchange companies reached  to 7.10 pounds for buying, and 7.14 pounds for sale.