Egypt’s pound falls to EGP 24.65 against dollar in some banks

Egypt’s pound currency fell to EGP 24.59 against the U.S. dollar for buying and EGP 24.54 for sale at banks on Tuesday.

At the National Bank of Egypt (NBE) and Banque Misr, the pound fell to EGP 24.59 against the U.S. dollar for buying and EGP 24.54 for sale. At Faisal Islamic Bank and AlexBank, the greenback recorded EGP 24.59 for buying and EGP 24.64 for sale.

Meanwhile, the pound recorded around EGP 24.56 against the U.S. dollar for buying and EGP 24.62 for sale at the National Bank of Kuwait – Egypt (NBK-Egypt) and EGP 24.56 for buying and EGP 24.62 for sale at Mashreq Bank Egypt.

On October 27, the central bank pledged a “durably flexible” exchange rate in conjunction with a staff-level agreement for a $3 billion extended fund facility reached with the International Monetary Fund (IMF).