The Egyptian pound traded in a narrow range against the US dollar in early dealings on Wednesday, with exchange rates at major banks showing marginal gains and losses, reflecting continued stability in the foreign exchange market.
As of 11:39 a.m. local time (0939 GMT), the greenback was quoted as follows:
| Bank | Buy (EGP/USD) | Sell (EGP/USD) |
| National Bank of Egypt (NBE) | 46.86 | 46.96 |
| Banque Misr | 46.94 | 47.04 |
| Commercial International Bank (CIB) | 46.84 | 46.94 |
| QNB Alahli | 46.8600 | 46.9600 |
| Abu Dhabi Islamic Bank (ADIB) | 46.9900 | 47.0900 |
The currency has traded within a relatively tight band in recent weeks, suggesting a degree of calm in the market following earlier bouts of volatility driven by foreign currency shortages and elevated inflation pressures.
Attribution: Amwal Al Ghad English