USD Falls in Egyptian Banks Amid Improved Foreign Currency Supply
The U.S. dollar declined during trading today across around 20 banks operating in the Egyptian banking sector, following a period of recent fluctuations. The currency dropped to a low of EGP 47.65, supported by a relative improvement in foreign currency supply and easing demand pressures in some banks.
The buying rate remained at the same level at Abu Dhabi First Bank. Meanwhile, Bank of Alexandria listed the dollar at EGP 47.79 for selling and EGP 47.69 for buying.
Similarly, Al Ahly Real Estate Bank, Banque du Caire, and Commercial International Bank offered the dollar at EGP 47.79 for selling and EGP 47.69 for buying, unchanged from Bank of Alexandria. Prices saw a limited increase at United Bank, Faisal Bank, and Arab Bank, which listed the dollar at EGP 47.80 for selling and EGP 47.70 for buying.
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