Dollar Falls Against Egyptian Pound in Banks
The US dollar's exchange rate against the Egyptian pound continued to decline in several banks during mid-Sunday business hours. At the National Bank of Egypt, it was recorded at 50.57 pounds for purchase and 50.67 pounds for sale, a decrease of 53 piasters. Bank of Egypt (Misr Bank) quoted it at 50.56 pounds for purchase and 50.66 pounds for sale, down by 52 piasters. Meanwhile, the Commercial International Bank and Al Baraka Bank both registered 50.50 pounds for purchase and 50.60 pounds for sale, each dropping by 55 piasters. At the Suez Canal Bank, the dollar broke the 50.80-pound barrier, falling by 39 piasters. Credit Agricole recorded rates of 50.58 for purchase and 50.68 for sale, a decrease of 57 piasters. This decline comes amid reduced demand for the dollar and improved economic indicators, following recent stability in exchange rates.
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