CAIRO: The Egyptian pound strengthens to as high as 5.6875 to the dollar, its strongest in six weeks, as it tracks the euro, which was trading at a five-month high against the dollar.
Egyptian firms are also selling their dollars and buying pounds for accounting purposes ahead of the end of the quarter, one Cairo-based trader says.
"I think there is a lot of liquidity in the market," he says. The pound had weakened to a 3-1/2 year low against the dollar in August.
