Egyptian Pound Fluctuates Against US Dollar, Prompting Bank Rate Adjustments

In the early trading hours of Tuesday, April 23, 2024, the Egyptian Pound (EGP) showed volatility against the US Dollar (USD), leading several banks to revise their buying and selling rates.

Key financial institutions, including the National Bank of Egypt, Banque Misr, Faisal Islamic Bank, and the United Bank, maintained stability with rates holding firm at EGP 48.10 and EGP 48.20, respectively.

In contrast, the Commercial International Bank (CIB) and QNB ALAHLI opted for slight increases, adjusting their rates to EGP 48.12 and EGP 48.22, respectively.

Meanwhile, Abu Dhabi Islamic Bank announced updated rates at EGP 48.42 and EGP 48.52, while the Arab African International Bank revealed their rates at EGP 48.35 and EGP 48.45.

These shifts in rates underscore the banks’ responsiveness to the fluctuating market dynamics of the EGP and their dedication to offering competitive rates to their clientele.



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