EGP dips against USD in early trade

The Egyptian Pound (EGP) experienced a dip against the US Dollar (USD) in early market activity on Wednesday, April 24, 2024, leading to a series of rate adjustments by various banks.

The National Bank of Egypt, Banque Misr, Faisal Islamic Bank, and the United Bank held their rates steady at EGP 48.10 and EGP 48.20, respectively.

In response to the market shift, the Commercial International Bank (CIB) and QNB ALAHLI marginally raised their rates to EGP 48.12 and EGP 48.22, respectively.

Abu Dhabi Islamic Bank revised their rates to EGP 48.42 and EGP 48.52, while the Arab African International Bank set their rates at EGP 48.35 and EGP 48.45.