The Central Bank of Egypt recorded the US dollar at EGP 49.62 for buying and EGP 49.75 for selling, a slight decrease from yesterday's levels. This reflects a calm demand for the US currency in the official market.
USD exchange rates in Egyptian banks Tuesday:
National Bank of Egypt:
Buying: EGP 49.62 Selling: EGP 49.72
Banque Misr:
Buying: EGP 49.62 Selling: EGP 49.72
Banque du Caire:
Buying: EGP 49.62 Selling: EGP 49.72
Commercial International Bank (CIB):
Buying: EGP 49.62 Selling: EGP 49.72
Bank of Alexandria:
Buying: EGP 49.62 Selling: EGP 49.72
Analysts attribute this slight decline to the banking sector's stability, a result of the Central Bank of Egypt's liquidity management and foreign currency demand regulation. This stability is further bolstered by continued foreign currency inflows, primarily from tourism and remittances from Egyptians working abroad. The US dollar's relative stability is expected to persist in the near term, barring significant global market developments like Federal Reserve interest rate decisions or emerging market shifts.