Egyptian Pound Edges Higher Against Dollar Amid Regional Uncertainty
The Egyptian pound has seen a slight recovery against the US dollar, trading at EGP 51.95 for buying and EGP 52.09 for selling on Sunday's close of business.
This is down from Thursday's rates of EGP 52.07 and EGP 52.21 respectively, but still around 0.65 or 1.3 percent weaker than the previous Sunday when the dollar traded at EGP 51.30 for buying and EGP 51.44 for selling.
The Central Bank of Egypt's data shows that across 12 banks, the dollar has been trading between EGP 51.97 and EGP 52.20 for buying and between EGP 52.07 and EGP 52.30 for selling.
State-owned Banque Misr and the National Bank of Egypt quoted the dollar at EGP 51.97 for buying and EGP 52.07 for selling, while Banque du Caire offered rates of EGP 52.09 and EGP 52.19 respectively.