According to the latest update issued by the exchange rate screens at Egyptian banks, the dollar fell to EGP 50.99 for purchase and EGP 51.99 for sale at several major banks.
National Bank of Egypt: Buying EGP 50.99, Selling EGP 51.99
Banque Misr: Buying EGP 50.99, Selling EGP 51.99
Banque du Caire: Buying EGP 50.99, Selling EGP 51.99
Commercial International Bank (CIB): Buying EGP 50.99, Selling
EGP 51.99
Alexandria Bank: Buying EGP 50.99, Selling EGP 51.99
Analysis of the general dollar trend:
The decline in the dollar exchange rate indicates a
gradual improvement in foreign exchange resources, in addition to the impact of
the recent interest rate cut announced by the Central Bank of Egypt, which
contributed to an increase in the supply of dollars in the local market and a
decline in demand in some sectors.
Market expectations in the coming days:
Economists expect the dollar's movement to continue in
its declining range in the coming days, especially with the approaching dollar
payments to Egypt and the increase in remittances from abroad, in addition to
positive indicators of the stability of the banking market.
Advice for citizens and investors:
In light of the decline in dollar prices, experts advise citizens wishing to buy the US currency, whether for travel or savings, to follow market developments moment by moment. Investors are also advised to monitor monetary policy decisions and their impact on the exchange market.