Cairo – Mubasher: The Egyptian pound (EGP) stabilized against the US dollar (USD) in early Saturday's trades at Egypt-based banks.
The highest rate for bids was offered by Al Baraka Bank at EGP 17.8 per dollar, while HSBC and Piraeus Bank provided the highest rate for asks at EGP 18.3 a dollar.
Transactions through CIB were carried out at EGP 17.5 per dollar for purchase and at EGP 17.8 per dollar for sale.
The EGP-USD pair was exchanged at 17.6 for bids and 17.8 for asks, according to the National Bank of Egypt, Banque Misr, and Banque Caire.
On Thursday, the Central Bank of Egypt set the average EGP-USD rate at 18.13 for sale and EGP 17.7 for purchase.
