Green Day trading recorded a slight decline in the price of the US dollar against the Egyptian pound, as it decreased by one penny in a number of banks, while in some of them it stabilized at the prices at which trading began in the morning. This decline is in addition to the relative stability that exchange rates have witnessed recently, which indicates a balance in the financial market.
In the Central Bank of Egypt, the dollar prices were as follows: 47.16 pounds to buy and 47.30 pounds to sell, while in the Bank of Cairo, the dollar recorded 47.20 pounds to buy and 47.30 pounds to sell. This slight decline represents a relative improvement in the strength of the pound, which continues to face challenges in the exchange market.
As for prices in some other banks, the National Bank of Egypt recorded 47.20 pounds to buy and 47.30 pounds to sell, while in Banque Misr the prices were 47.16 pounds to buy and 47.26 pounds to sell. Thus, we notice a convergence in prices between most banks, which reflects market stability.
The dollar prices at the Bank of Alexandria were also 47.21 pounds for purchase and 47.31 pounds for sale, and the Commercial International Bank “CIB” stated that it recorded 47.22 pounds for purchase and 47.32 pounds for sale. Abu Dhabi Islamic Bank also recorded a price of 47.23 pounds to buy and 47.33 pounds to sell, which indicates a slight discrepancy in prices.
Dollar trading continues to remain within narrow ranges, as Al Baraka Bank recorded 47.20 pounds for purchase and 47.30 pounds for sale, while Suez Canal Bank updated its price list at 47.23 pounds for purchase and 47.33 pounds for sale. This situation reflects a trend towards stability of exchange rates in the Egyptian market.
These prices indicate the desire of banks to maintain stable levels of the dollar against the Egyptian pound, and it appears that the market is moving towards relative stability in light of the current economic conditions, which allows investors and citizens the opportunity to plan carefully financially.
