What is a receiving rate in Egypt?
A receiving rate is the name given to the amount of money that they recipient will have to pay in order to be able to use the money you have sent. This can come in the form of higher commissions if they want to exchange travellers cheques or having to pay high fees when they exchange actual currency. So as you would think it makes sense to transfer money to Egypt using a method that avoids a receiving rate.
How to avoid currency movements in Egypt
You can easily avoid your recipient pay any fees by setting up a simple currency transfer to Egypt. You will need to send the Egyptian pound to your recipient as this is the unit of currency that is used in Egypt. While it is possible to send travellers cheques in pounds sterling or US dollars these will attract quite a high rate of commission which is something your recipient will want to avoid.
Free currency conversion for Egypt
You will also be able to see in an instant the currency rate Egypt currency is following at any time by using an online currency converter. It is possible to use such a converter whenever you want, you do not have to be setting up a money transfer to Egypt to be able to use one. With this in mind you may want to watch the rate for a few days to get an idea of how the rate can fluctuate, often quite dramatically, on a day-to-day basis. If you can afford to you can also use this to your advantage and only transfer money when your recipient will really benefit.