Egyptian Pound Stable as Global Markets Await Monday Trading

The Egyptian pound remained stable against major currencies on Sunday, with global markets closed for the weekend and trading set to resume on Monday. The US dollar was quoted at EGP 52.22 for buying and EGP 52.36 for selling at the Central Bank of Egypt. The euro stood at EGP 58.76 for buying and EGP 58.93 for selling, while the British pound was priced at EGP 69.15 for buying and EGP 69.35 for selling.

Among other major currencies, the Saudi riyal was quoted at EGP 13.90 for buying and EGP 13.94 for selling. The Canadian dollar was priced at EGP 36.63 for buying and EGP 36.75 for selling, while the Swiss franc stood at EGP 63.00 for buying and EGP 63.19 for selling. The Danish krone, Norwegian krone, Swedish krona, and Japanese yen were also listed with their respective exchange rates.

Sunday’s exchange rates did not reflect a new trading session, as global currency markets ended their weekly trading on Friday and will reopen on Monday. The US dollar ended the week under pressure following weaker-than-expected US labor market data, with the economy adding only 29,000 jobs in September and the unemployment rate rising to 4.2%. These developments could influence expectations for the Federal Reserve’s monetary policy in the coming months.

Investors are now watching the dollar, US Treasury yields, and incoming economic data for signals on the direction of major currencies, including the euro, pound sterling, Swiss franc, and Japanese yen, as global markets resume trading on Monday.