24 Hrs
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Dollar drops to 51 pounds
The price of the dollar has significantly decreased in Egyptian banks, with a drop ranging between 67 and 75 piastres, reaching its lowest level in some time, at approximately 50.30 to 50.47 pounds for purchase. This comes amid optimism supported by an agreement between Iran and the United States, which has led to improved market indicators and an increase in net international reserves to $53.134 billion by the end of May. Other factors contributing to this include stabilized geopolitical conditions and the return of foreign investment flows. It is expected that the Egyptian pound will continue to remain stable above 50 pounds until the end of the year, depending on political developments and oil prices.
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