Egyptian Pound Sees Slight Stability, Dollar Remains Strong

The Egyptian pound saw some stability over the weekend, but the US dollar remains strong against it. According to data from the Central Bank of Egypt (CBE), the dollar traded at around EGP 52.22 for buying and EGP 52.36 for selling on Sunday, down marginally from Thursday's levels.

This slight decline means the pound has strengthened slightly against the dollar since the end of last week. However, compared to the previous Sunday, when the dollar traded at EGP 51.65 for buying and EGP 51.78 for selling, the pound is about 1.1 percent weaker.

The Egyptian pound remains around 9.1 percent weaker against the dollar than its pre-conflict level of EGP 47.99. The euro also weakened slightly against the pound on Sunday, trading at around EGP 58.76 for buying and EGP 58.93 for selling, down from Thursday's levels.