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Egyptian Banks Open With Stable Dollar Rates

The US dollar traded within a relatively narrow range against the Egyptian pound as banks opened for business on Thursday, October 29, following exchange-rate movements during the previous session.

Buying prices among the banks cited ranged between EGP 55.97 and EGP 56.25, while selling prices ranged from EGP 56.07 to EGP 56.35.

Three Banks Offer Highest Buying Rate

Housing and Development Bank, Egyptian Gulf Bank and Abu Dhabi Islamic Bank recorded the highest buying price at EGP 56.25, alongside a selling price of EGP 56.35.

At the other end of the range, Bank of Alexandria offered EGP 55.97 for buying and EGP 56.07 for selling.

Dollar Around EGP 56.1 at Several Lenders

Arab African International Bank priced the dollar at EGP 56.16 for buying and EGP 56.26 for selling, while Kuwait Finance House recorded EGP 56.14 and EGP 56.24.

Rates stood at EGP 56.12 for buying and EGP 56.22 for selling at Al Baraka Bank and EGP 56.11 and EGP 56.21 at Faisal Islamic Bank.

Major Banks Converge at EGP 56.07

The National Bank of Egypt, Banque Misr, CIB, Suez Canal Bank and Arab Bank all recorded a buying price of EGP 56.07 and a selling price of EGP 56.17.

Meanwhile, National Bank of Kuwait and Abu Dhabi Commercial Bank offered EGP 56.06 for buying and EGP 56.16 for selling.

Industrial Development Bank recorded EGP 56.05 and EGP 56.15, while First Abu Dhabi Bank Egypt posted EGP 56.04 for buying and EGP 56.14 for selling.