The US dollar held broadly steady against the Egyptian pound in midday trade on Thursday, averaging 52.71 pounds for buying and 52.81 pounds for selling across major banks as of 12:40 p.m. Cairo time (10:40 GMT).
Data from leading lenders showed the greenback moving within a narrow range of 52.67 to 52.75 pounds for buying and 52.77 to 52.85 pounds for selling, indicating relatively stable demand for foreign currency in the local market.
Exchange rates at several of Egypt’s largest banks were as follows:
| Bank | Buy (EGP/USD) | Sell (EGP/USD) |
| National Bank of Egypt (NBE) | 52.67 | 52.77 |
| Banque Misr | 52.7 | 52.8 |
| Commercial International Bank (CIB) | 52.73 | 52.83 |
| QNB Alahli | 52.7100 | 52.8100 |
| Abu Dhabi Islamic Bank (ADIB) | 52.7500 | 52.8500 |
The Egyptian pound has traded within a relatively stable band against the dollar in recent sessions, following the country’s shift to a more flexible exchange rate regime in March 2024.
Attribution: Amwal Al Ghad English