US Dollar Surges Against Egyptian Pound, Hits EGP 47.41 in Local Banks
The US dollar rose against the Egyptian pound during trading on Sunday, reaching EGP 47.41 as the highest selling rate in Egypt’s currency market, amid a broad upward movement across all banks.
At the top of the exchange rates, the Kuwait National Bank (Ahli) posted EGP 47.31 for buying and EGP 47.41 for selling, maintaining the market’s peak rate. National Bank of Kuwait followed closely at EGP 47.25/47.35 (buy/sell), while the Industrial Development Bank quoted the dollar at EGP 47.20/47.30.
Slightly lower, Abu Dhabi Islamic Bank recorded EGP 47.18/47.28, in line with Suez Canal Bank and Arab African International Bank at EGP 47.13/47.23. Bank of Cairo mirrored these rates at EGP 47.13/47.23, whereas Alexandria Bank and National Bank of Egypt stabilized at EGP 47.12/47.22.
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