This stability in the dollar's movement comes aimed a period relative calm in the markets, after slight declines during the past days, amid a continuous follow -up of customers and importers of the developments of the exchange market.
Stability in Egyptian banks
National Bank of Egypt: Buying EGP 49.46, Selling EGP 49.56
Banque Misr: Buying EGP 49.46, Selling EGP 49.56
Banque du caire: Buying EGP 49.46, Selling EGP 49.56
Alexandria Bank: Buying EGP 49.46, Selling EGP 49.56
Commercial International Bank (CIB): Buying EGP 49.46, Selling EGP 49.56
Factors behind the stability of the dollar
Analysts attribute the stability of the dollar exchange rate to several factors, most notably the remarkable improvement in foreign exchange resources for Egypt, especially from tourism, the Suez Canal, and the transfers of workers abroad, as well as the central bank continues to manage monetary policy effectively and flexibility.
This comes in parallel with the slight decline in the purchases of central banks in the globally during the month of April, which reduced the pressure on the dollar in international markets.
Expectations of the coming period
Economists suggest that the dollar price will witness slight moves during the coming period, in parallel with expected decisions from the US Federal Reserve regarding interest rates, as well as following up the performance of the local economy and foreign investment developments.