Foreign Exchange Rates Stabilize in Egypt

Foreign exchange rates in Egypt demonstrated notable stability at the start of the week, according to Bakam data. The US dollar was recorded at 51.86 EGP for buying and 52.59 EGP for selling, reflecting a steady rate with a 0.02% change from the previous day's prices.

Among Arab currencies, the Saudi Riyal stood at 13.83 EGP for buying and 14.02 EGP for selling, while the UAE Dirham was recorded at 14.12 EGP for buying and 14.32 EGP for selling. The Kuwaiti Dinar traded at 167.67 EGP for buying and 170.03 EGP for selling, and the Qatari Riyal was at 14.25 EGP for buying and 14.45 EGP for selling.

Regarding other foreign currencies, the British Pound was priced at 69.69 EGP for buying and 70.68 EGP for selling, while the Euro was at 60.46 EGP for buying and 61.32 EGP for selling. The Jordanian Dinar was recorded at 73.14 EGP for buying and 74.17 EGP for selling.

This stability in currency rates comes amid a relatively calm market environment, with no significant changes observed, indicating a balance in the supply and demand for foreign currencies in Egypt. This stability is expected to continue unless major global market fluctuations or changes in local economic policies occur.