Dollar surpasses 54 pounds in Egypt
The dollar exchange rate in Egypt surpassed 54 pounds for the first time since April, rising by approximately 41 piasters during today's trading. The highest rate was recorded at Crédit Agricole and Kuwait Finance House, both at 54 pounds, while the lowest was at Abu Dhabi Commercial Bank at 53.60 pounds. This increase comes amid the Central Bank of Egypt maintaining interest rates at 19% for deposits and 20% for loans, with foreign currency reserves rising to $57.35 billion. This situation reflects market pressure on exchange rates and its impact on costs and imports.
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