Despite what was raised on social media during the Eid al-Fitr holiday, The exchange market in Egypt recorded a state of stability, despite anticipating the trends of the dollar, amid talk of an expected decline of the Egyptian pound against the US currency..
The talks were taking place in the context of the Egyptian pound’s return to decline against the US dollar, but the market witnessed stability during the first trading of currencies in banks on the first days of returning from a long vacation.
While the market was awaiting new statements by the Central Bank of Egypt regarding interest rates or the exchange market, the “Central” statement came to confirm that there is no need to expedite the convening of the Monetary Policy Committee meeting scheduled to be held on May 19, to reassure the market and increase the state of stability.
The National Bank of Egypt and Banque Misr fixed the dollar exchange rate at 18.45 pounds for purchase, and 18.51 pounds for sale.
At the Commercial International Bank, the dollar recorded a level of 18.45 pounds for purchase, and 18.53 pounds for sale.
In the Bank of Alexandria, the American note recorded a level of 18.46 pounds for purchase, and 18.53 pounds for sale. While the average dollar exchange rate at the Central Bank of Egypt amounted to about 18.44 pounds for purchase, and 18.52 pounds for sale.
While the exchange rate of the euro against the Egyptian pound recorded a level of 19.34 pounds for purchase, and 19.61 pounds for sale, at the National Bank of Egypt.
The exchange rate of the pound sterling against the Egyptian pound recorded a level of 22.65 pounds for purchase, and 22.91 pounds for sale.
In the Arab world, the exchange rate of the Saudi riyal against the Egyptian pound recorded a level of 4.91 pounds for purchase, and 4.93 pounds for sale.
The Kuwaiti dinar exchange rate reached about 57.86 pounds for purchase, and 60.34 pounds for sale.
While the UAE dirham recorded a level of 5.02 pounds for purchase, and 5.04 pounds for sale, at the Central Bank of Egypt.