Dollar Climbs Above EGP 48 against Egyptian Pound

The Egyptian pound witnessed a varied performance against major foreign currencies, with some currencies experiencing slight upticks while others showed stability in the final trading hours of the day.

The US dollar registered a slight increase against the Egyptian pound in both the Central Bank of Egypt and major commercial banks. By the close of trading, the dollar was quoted at:

Central Bank of Egypt: EGP 48.10 for buying, EGP 48.23 for selling.

Commercial Banks (e.g.,Banque du Caire, National Bank of Egypt, Banque Misr): Around EGP 48.08 for buying, EGP 48.18 for selling.

While the Central Bank held steady with minor variations from the morning rates, the commercial banks experienced slight fluctuations within a narrow range, indicating that the market remains responsive to economic conditions while maintaining relatively stable levels of exchange.

Euro: A Mixed Performance

The euro currency also showed some signs of fluctuation against the Egyptian pound. Its performance varied across banks, with Bank of Cairo offering a slightly higher rate compared to others:

Central Bank of Egypt: EGP 56.29 for buying, EGP 56.44 for selling.

Banque du Caire: EGP 56.41 for buying, EGP 56.71 for selling.

This disparity in rates reflects a mix of demand and supply dynamics, alongside factors like regional economic activities and global eurozone performance. However, in the wider market, the euro's value stayed relatively within the expected range.