Dollar recorded to an average of 15.2 for buying and 15.7 for selling to the Egyptian pound during early interbank dealings at the National Bank of Egypt (NBE) on Tuesday.
Euro reached around 16.3187 for buying and 16.9105 for selling to the Egyptian pound; while pound sterling stood at 18.9483 for buying and 19.669 for selling.
Kuwaiti dinar registered around 50.0082 for buying and 51.6872 for selling to the Egyptian pound. Saudi riyal recorded 4.0523 for buying and 4.1864 for selling.
UAE dirham hit 4.1383 for buying and 4.2744 for selling, while Bahrain’s dinar stood at 40.3162 for buying and 41.6446 for selling.
Egypt floated the pound on Nov. 3 in a dramatic move welcomed by businesses as the key to unlocking investment.
It devalued the currency by about a third from the former peg of 8.8 against the dollar and allowed it to drift lower.
The pound initially fell to a rate of roughly 18 to the dollar, in line with prices quoted on the country’s currency black market just days before the float.
