Cairo - Mubasher: The Egyptian pound remained steady against the US dollar in both the official market and the parallel market.

The dollar exchange rate recorded EGP 7.78 for buying and EGP 7.83 for sale, according to the National Bank of Egypt.

The dollar exchange rate remained stable on the parallel market on Sunday at EGP 8.02 for buying and EGP 8.05 for sale, Market dealers told Mubasher.

Earlier, President Abdel Fattah El Sisi gave orders, during meeting with Prime Minister Sherif Ismail, to rationalize import in order not to add more pressure to the State's resources of the foreign currency.

Egypt's Central Bank has allowed the Egyptian pound to rise against the US dollar by EGP 0.20 each in last July from EGP 7.53 in 4 February, after its continuous declines since the start of 2015.

The gap between the official market and the secondary market in respect to the dollar price against the Egyptian pound increased following the investment minister declarations regarding the pound’s devaluation.