Value of US dollar further rises against Egyptian pound
US dollar
Cairo - MENA
The value of the US dollar further rose against the Egyptian pound in the official market Tuesday to register EGP 7.30 compared to the EGP 7.25 buying rate of Monday.
Selling dollar price also upped to EGP 7.33 compared to 7.23 just yesterday.
The Central Bank of Egypt has been selling dollars to banks in the form of bids, a banker told MENA on condition of anonymity, noting that banks get four bids a week. He believes this is a good step to face and eliminate the parallel dollar market.
The dollar has also risen in the parallel market, where it is now bought for EGP 7.84 and sold for EGP 7.88, the chairman of an exchange office told MENA also on condition of anonymity.
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