Dollar Falls against Egyptian Pound by End of Sunday’s Trading, Euro Remains Stable

The US dollar experienced a general decline against the Egyptian pound by the close of trading on Sunday, with prices narrowing between buying and selling rates in most local banks.

Dollar Exchange Rates:

At the Central Bank of Egypt (CBE), the dollar recorded 48.33 to buy and 48.47 to sell.

In the National Bank of Egypt (NBE), the dollar was bought at 48.43 EGP and sold at 48.63 EGP, and at the Banque du Caire, the dollar was bought for 48.61 EGP and sold for 48.71 EGP, while in Banque Misr the buying rate stood at 48.39 EGP, with a selling price of 48.59 EGP.

This collective decline in the dollar’s value against the pound signals subtle shifts in the exchange market, with tighter spread between buying and selling prices indicating a potential stabilization following earlier fluctuations.

As the market reflects these changes, analysts will be keeping a close eye on whether this trend persists, particularly in light of domestic and global economic factors that continue to influence currency values.

Euro Exchange Rates:

The Euro remained stable against the Egyptian pound at the close of trading on Sunday, according to the latest official data. 

This stability is seen as an important indicator for economic decision-makers in Egypt, as maintaining currency stability is crucial for supporting the financial sector amid current economic challenges.

At the Central Bank of Egypt (CBE), the Euro was bought at 56.62 EGP and sold at 56.80 EGP. Meanwhile, at the National Bank of Egypt and Banque Misr, the Euro was bought for 56.03 EGP and sold for 56.91 EGP. 

This consistent exchange rate reflects efforts to stabilize the currency and manage inflation pressures, which are essential for the country’s ongoing economic strategy.