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The exchange rate of the US dollar against the Egyptian pound remained stable during the early hours of Monday’s trading session, following a slight decline in the greenback’s value at the close of trading on Sunday. This comes amid close monitoring by market participants and importers in Egypt.

Steady Dollar Rates Across Major Egyptian Banks

According to the latest updates from banks operating in Egypt, the dollar’s buying and selling rates are as follows:

Suez Canal Bank: EGP 49.29 (buying) | EGP 49.39 (selling)

The United Bank: EGP 49.28 (buying) | EGP 49.38 (selling)

National Bank of Egypt (NBE): EGP 49.29 (buying) | EGP 49.39 (selling)

Banque Misr: EGP 49.29 (buying) | EGP 49.39 (selling)

Bank of Alexandria: EGP 49.29 (buying) | EGP 49.39 (selling)

Commercial International Bank (CIB): EGP 49.29 (buying) | EGP 49.39 (selling)

This period of stability follows a marginal decline in the dollar’s value on Sunday. Market observers are keeping a close eye on global developments, especially as the US dollar has recently dipped to its lowest levels internationally.

Outlook: Continued Stability Expected

Analysts anticipate further stability in the dollar-to-pound exchange rate across local and foreign banks operating in Egypt, barring any sudden shifts in market dynamics. The coming period is likely to see consistent levels, as both consumers and businesses brace for any potential movements—upward or downward—in the currency’s value.