EGP swings vs. USD in Thursday’s early trade

The Egyptian Pound (EGP) experienced fluctuations against the US Dollar (USD) on Thursday, May 2, 2024, leading to a series of rate modifications across several banks.

The National Bank of Egypt and Banque Misr, along with the Commercial International Bank (CIB), held their rates steady at EGP 47.80 and EGP 47.90, respectively.

Concurrently, Banque du Caire and QNB ALAHLI revised their rates to EGP 47.80 and EGP 47.90, while the Arab African International Bank updated their rates to EGP 47.88 and EGP 47.98.

Faisal Islamic Bank of Egypt adjusted their rates to EGP 47.75 and EGP 47.85, whereas the United Bank decided to maintain its rates at EGP 47.80 and EGP 47.90.

In a contrasting move, Abu Dhabi Islamic Bank elevated their rates to EGP 47.95 and EGP 48.05.