Currency and Prices

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Re: Currency and Prices

Post by newcastle »

I don't know about Luxor but I couldn't see the usual ones in Hurghada open...prior to the float. Maybe some were...offering the official rates

People used the banks....or, more likely, the "street".

As far as I know there isn't one for incoming passengers at HRG airport..only the bank.



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Re: Currency and Prices

Post by denisegr »

I popped to Sainsburys today to order some EP she told me it would be available tomorrow afternoon. About half an hour later I received a call saying sorry we no longer do Egyptian currency due to "the way things were in Egypt" my friend tried lloyds who told her similar.
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Re: Currency and Prices

Post by My Middle Finger »

Bombay, I have been going to Luxor enough times to know (and see) tourists being used as cash cows, more le in their pockets is not going to stop that. That is NOT to say every person working in the toursist trade in Luxor is out to scam or rob the tourist by any means. I am merely asking a question, NOT making a statement.

Brain Yare, I don't speculate on the rate, I merely suggest that any currency that is allowed to float will by its very nature rise and fall (over the months/years). When it rises, people in Luxor/Egypt might see that as an excuse to increase prices further, BUT when the rate falls, prices will NOT fall accordingly IMO.

Hafiz, interesting post on the 12 month rate. The problem is with forward rates, they don't/can't take into consideration things like a Trump victory in America (or even for that matter a Clinton victory, although that MAY for some be easier to predict), a hard/soft Brexit, civil unrest in Egypt (or even rampant inflation), etc. etc.

It will be interesting to see what transpires over the comming months (not just in Egypt).

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Re: Currency and Prices

Post by Bombay »

I know I have the poster in the restaurant signed by Peter O' Tool.

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Re: Currency and Prices

Post by Dusak »

carrie wrote:Well I went into the bank of Abu Dhabi today to change some sterling and they refused saying they only changed currency for those that had an account with the bank.
The HSBC have had the account holders rule for a long time now. Seems stupid to me as it only encourages visitors to get it changed on the BM or exchange places. The HSBC told me that the ruling came from the bank of Cairo. Anyone know what the rate is for £ in the HSBC? As I need to go on Sunday.
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Re: Currency and Prices

Post by FABlux »

Dusak sorry can't help but I do know friends who are here for a week say the hotel bank is shut & the sign has even gone (Sonesta) but did manage to change £ in one of the banks OK, couldn't remember which one though :(

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Re: Currency and Prices

Post by Brian Yare »

FABlux wrote:Dusak sorry can't help but I do know friends who are here for a week say the hotel bank is shut & the sign has even gone (Sonesta) but did manage to change £ in one of the banks OK, couldn't remember which one though :(
I visited the ATM by New Qurna hospital and got 20.42 on my debit card, before commission. That was around the rate advertised online. Had I waited a day I would probably got 21, or even briefly 22.

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Re: Currency and Prices

Post by Dusak »

FABlux wrote:Dusak sorry can't help but I do know friends who are here for a week say the hotel bank is shut & the sign has even gone (Sonesta) but did manage to change £ in one of the banks OK, couldn't remember which one though :(
I have my worry beads out FABlux, are you saying the HSBC is shut, or is there an HSBC cash point in the Sonesta that I didn't know about or are you a little mixed up in regards to my question on what the exchange rate was in the HSBC for my trip there on Sunday?
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Re: Currency and Prices

Post by Bombay »

My Middle Finger wrote:Bombay, I have been going to Luxor enough times to know (and see) tourists being used as cash cows, more le in their pockets is not going to stop that. That is NOT to say every person working in the toursist trade in Luxor is out to scam or rob the tourist by any means. I am merely asking a question, NOT making a statement.

Brain Yare, I don't speculate on the rate, I merely suggest that any currency that is allowed to float will by its very nature rise and fall (over the months/years). When it rises, people in Luxor/Egypt might see that as an excuse to increase prices further, BUT when the rate falls, prices will NOT fall accordingly IMO.

Hafiz, interesting post on the 12 month rate. The problem is with forward rates, they don't/can't take into consideration things like a Trump victory in America (or even for that matter a Clinton victory, although that MAY for some be easier to predict), a hard/soft Brexit, civil unrest in Egypt (or even rampant inflation), etc. etc.

It will be interesting to see what transpires over the comming months (not just in Egypt).

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Re: Currency and Prices

Post by Bombay »

My Middle Finger wrote:Bombay, I have been going to Luxor enough times to know (and see) tourists being used as cash cows, more le in their pockets is not going to stop that. That is NOT to say every person working in the toursist trade in Luxor is out to scam or rob the tourist by any means. I am merely asking a question, NOT making a statement.

Brain Yare, I don't speculate on the rate, I merely suggest that any currency that is allowed to float will by its very nature rise and fall (over the months/years). When it rises, people in Luxor/Egypt might see that as an excuse to increase prices further, BUT when the rate falls, prices will NOT fall accordingly IMO.

Hafiz, interesting post on the 12 month rate. The problem is with forward rates, they don't/can't take into consideration things like a Trump victory in America (or even for that matter a Clinton victory, although that MAY for some be easier to predict), a hard/soft Brexit, civil unrest in Egypt (or even rampant inflation), etc. etc.

It will be interesting to see what transpires over the comming months (not just in Egypt).
This is not unique to Luxor it goes on all over even in Times Square. I was answering a question put to me about my restaurant.

Whatever my prices are or will be they will be clearly displayed outside or on my menu at the same rate in any language as they always have been for most of the time since I opened a restaurant in Luxor in 2001.
I do not care who comes in and pays tourist or Egyptians who are just as regular visitors these days.

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Re: Currency and Prices

Post by Major Thom »

We went shopping today, and just got what we normally get for the week, calling at Arkwrights, 40's and Kerz Zaman. Normally our weekly shop us around 1400le today 1850le so prices are defininetely rising fast, white Oats up by 6le pharmaceuticals are really getting expensive.5 months ago you got 5 balady breads for 1le now it's 3 for 1le. We did expect rises but not by the amount some hav risen. Goodness know how lacks will survive. They told me today that even with the poor passport how much they now have to pay for sugar, some are not earning that in a day.

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Re: Currency and Prices

Post by carrie »

Well with the devaluation of the Egyptian pound your shopping today cost half of what it did last week.

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Re: Currency and Prices

Post by My Middle Finger »

"I was answering a question put to me about my restaurant.

Sorry Bombay, not sure what you are refering to here. Nowbody (at least not me anyway), was saying anthing about your restaurant or prices charged. I was making a "general" comment about the currency rate increase and any possible rises in prices, due to the rise. Not sure who specifically mentioned your restaurant.

Whatever my prices are or will be they will be clearly displayed outside or on my menu at the same rate in any language as they always have been for most of the time since I opened a restaurant in Luxor in 2001.
I do not care who comes in and pays tourist or Egyptians who are just as regular visitors these days".

I may be wrong, but don't all or at most restaurants show the prices outside their premises (in some form or another).

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Re: Currency and Prices

Post by Bombay »

newcastle wrote:Bombay might wish to comment on whether restaurants in Luxor view tourists as "easy targets" :lol:

I haven't noticed any such effect in Hurghada.

I wouldn't bank on the exchange rate , EGP for GBP, lessening. Some commentators feel there's worse to come if the economy doesn't respond to recent measures...or if there's civil unrest.
Newcastle asked

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Re: Currency and Prices

Post by Bombay »

My Middle Finger wrote:"I was answering a question put to me about my restaurant.

Sorry Bombay, not sure what you are refering to here. Nowbody (at least not me anyway), was saying anthing about your restaurant or prices charged. I was making a "general" comment about the currency rate increase and any possible rises in prices, due to the rise. Not sure who specifically mentioned your restaurant.

Whatever my prices are or will be they will be clearly displayed outside or on my menu at the same rate in any language as they always have been for most of the time since I opened a restaurant in Luxor in 2001.
I do not care who comes in and pays tourist or Egyptians who are just as regular visitors these days".

I may be wrong, but don't all or at most restaurants show the prices outside their premises (in some form or another).
You would be and there lies part of the 'Cash Cow" problem many restaurants do not or they may in Arabic then charge much more I heard of a well know "local" restaurant charging $500 Dollars for a family recently.

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Re: Currency and Prices

Post by My Middle Finger »

Bombay wrote:
My Middle Finger wrote:"I was answering a question put to me about my restaurant.

Sorry Bombay, not sure what you are refering to here. Nowbody (at least not me anyway), was saying anthing about your restaurant or prices charged. I was making a "general" comment about the currency rate increase and any possible rises in prices, due to the rise. Not sure who specifically mentioned your restaurant.

Whatever my prices are or will be they will be clearly displayed outside or on my menu at the same rate in any language as they always have been for most of the time since I opened a restaurant in Luxor in 2001.
I do not care who comes in and pays tourist or Egyptians who are just as regular visitors these days".

I may be wrong, but don't all or at most restaurants show the prices outside their premises (in some form or another).
You would be and there lies part of the 'Cash Cow" problem many restaurants do not or they may in Arabic then charge much more I heard of a well know "local" restaurant charging $500 Dollars for a family recently.
WOW, that IS a rip off $500.

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Re: Currency and Prices

Post by Major Thom »

I know what you say is true Carrie, but what about the local people? their money for food will not buy them much. The sugar now even if you have a poor passport is 7le a kilo. I really have no interest in myself but every day you see more and more people suffering not being able to afford medicine for their illness's, children now are the new beggers on the street asking for food as well as money.

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Re: Currency and Prices

Post by carrie »

What about the local people MT, you complained in an other post about how much you now had to spend on food per week, 1800LE, well all I can say to spend so much you must waste a lot or be extra ordinarily greedy. If you cared so much about the "local" people maybe you should cut back a little and buy them some meat or chicken. Without of course broadcasting it to the world.

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Re: Currency and Prices

Post by Dusak »

I'm a hearty eater, I eat meat like its going out of fashion. Chocolate by the full box, biscuits and all my cat needs, 1,800 per month so it beggars belief what you are buying per week for that amount. Foot note- KZ limit two bags of sugar per person at 7.50Le per bag. The ''poor people'' can buy a box of twelve bags for 60Le. Gas off the street sellers is about to cost between 30/40Le per canister, 20Le direct from the factory, was 10Le.
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Re: Currency and Prices

Post by Major Thom »

We like to eat well, we like to eat good products and branded products. We treat our dog the same he has at least 1 full chicken breast a day, with biscuits, he can go through, 3-4 kilo of Chicken Liver a week, he also eats freash mince, and while ever he's alive he will eat well, and why not he is apart of the family.

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