Cairo – Mubasher: The Egyptian pound was stable on Wednesday against foreign currencies at national and private banks, compared to Tuesday.
Bank Audi offered the highest US dollar rate at EGP 17.87 for buying and EGP 17.96 for selling, whereas the Agricultural Bank of Egypt (ABE) recorded the lowest rate at EGP 17.78 for buying and EGP 17.88 for selling.
Meanwhile, the average rate of the euro across Egyptian banks ranged between EGP 20.52 and EGP 20.77 for purchasing and between EGP 20.9 and EGP 21.03 for selling.
Banque du Caire registered the highest rate for buying and selling the British pound sterling at EGP 23.4 and EGP 24.61, respectively, while National Bank of Egypt (NBE) recorded the lowest rate at EGP 22.72 for buying and EGP 23.33 for selling.
Egypt is targeting a USD rate of EGP 17.25 in fiscal year 2018/2019, versus EGP 16 in FY17/18.