ADIB Egypt sees highest EGP/USD rate Thursday

ADIB Egypt sees highest EGP/USD rate Thursday
ADIB Egypt sees highest EGP/USD rate Thursday

Cairo – Mubasher: The Egyptian pound was stable on Thursday against foreign currencies at national and private banks, compared to Wednesday.

Abu Dhabi Islamic Bank Egypt (ADIB) offered the highest US dollar rate at EGP 17.88 for buying and EGP 17.96 for selling, whereas the National Bank of Egypt (NBE) and the Agricultural Bank of Egypt (ABG) registered 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 20.39 and EGP 20.77 for purchasing and between EGP 20.63 and EGP 20.92 for selling.

ADIB registered the highest rate for buying and selling the British pound (GBP) at EGP 23.57 and EGP 23.78, respectively, while Societe Arabe Internationale De Banque (SAIB)recorded the lowest rate at EGP 23.03 for buying and EGP 23.29 for selling.

The North African nation is targeting a USD rate of EGP 17.25 in fiscal year 2018/2019, versus EGP 16 in FY17/18.