Egyptian pound breaches EGP 30 barrier against dollar at closing yesterday

The EGP broken through the 30 mark against the USD yesterday, dipping 0.4% against the greenback to 30.03 from 29.92 a day before, per the central bank exchange rate.

At the Central Bank of Egypt (CBE) yesterday, the pound traded at EGP 29.93 for buying and EGP 30.03 for selling.

The local currency has largely stabilized against the USD in recent days, following a sharper devaluation at the start of January that helped spur the return of foreign inflows and relieve a shortage of hard currency that had stymied imports. Trading on the interbank market continues to be active.

The exchange rates of the U.S. dollar against the Egyptian pound in National Bank of Egypt (NBE)  was at EGP29.90 selling and EGP30.00 for buying and the Commercial International Bank (CIB Egypt) at EGP 29.84  for selling  and EGP 29.94 for buying and Faisal Islamic Bank of Egypt EGP30.00 for selling and EGP 30.10 for buying