The official exchange rate of the US dollar at the Central Bank of Egypt (CBE) surged by EGP 0.53 on Sunday, closing at EGP 51.0564 for buying and EGP 51.1944 for selling, up from EGP 50.5296 and EGP 50.6669, respectively, at the end of last week’s trading.
Similarly, the average exchange rate of the dollar in Egypt’s banking sector increased by the same margin. By the end of Sunday’s session, the average rate stood at EGP 51.0728 for buying and EGP 51.1728 for selling, compared to EGP 50.5474 and EGP 50.6474 last week. These figures, published by the CBE, reflect average rates across the market throughout the trading day.
The dollar began Sunday’s trading with a noticeable jump across several banks. At the National Bank of Egypt, the greenback recorded EGP 51.11 for buying and EGP 51.21 for selling. Banque Misr and Bank of Alexandria posted slightly higher rates at EGP 51.22 for buying and EGP 51.32 for selling, while the Commercial International Bank (CIB) quoted EGP 51.18 for buying and EGP 51.28 for selling.
At United Bank, the rate reached EGP 51.25 for buying and EGP 51.35 for selling, whereas SAIB Bank listed the dollar at EGP 51.16 for buying and EGP 51.26 for selling. At Abu Dhabi Islamic Bank Egypt, it stood at EGP 51.15 for buying and EGP 51.25 for selling.
