Egyptian Pound Holds Firm Against Major Currencies

The Egyptian pound maintained stability against major currencies by the end of last week's trading session. The Central Bank of Egypt (CBE) released official exchange rates, which showed the US dollar trading at EGP 51.37 for buying and EGP 51.47 for selling.

The euro approached the EGP 59 level, reaching EGP 58.61 for buying and EGP 58.95 for selling. The British pound stood at EGP 68.22 for buying and EGP 68.71 for selling, according to the CBE's latest official rates.

The CBE's Monetary Policy Committee met to discuss interest rates, which is closely watched by businesses, investors, and financial markets. The committee's decision has significant implications for financing conditions and economic activity.