Dollar hovers near lows; Egyptian Pound steady at local banks
· Egyptian market news · ARAB
The dollar hovered near multi-month lows on Monday, August 24, as markets were unsettled by the US Treasury's plan to buy back more long-dated bonds, while international traders awaited details of sanctions on Iran and policy speeches in the US and Japan this week.
In Egypt, the US dollar was quoted at EGP 50.74 for buying and EGP 50.84 for selling at Banque Misr, the National Bank of Egypt (NBE) and the United Bank of Egypt, according to the latest updates at 10:36 am Cairo time.
At the Commercial International Bank (CIB), the dollar was quoted at EGP 50.75 for buying and EGP 50.85 for selling.
Meanwhile, the USD hit EGP 50.73 for buying and EGP 50.83 for selling at ALEXBANK.