The US dollar has stabilized against the Egyptian pound after rising by LE0.10 last month. The selling rate for the dollar currently stands at LE5.56 and the buying rate at LE5.55.
Meanwhile, the selling rate of the Saudi riyal reached LE1.48 and the buying rate LE1.47, due largely to increased demand during the Umrah pilgrimage season.
The euro, for its part, fell to US$1.3, which served to bolster the dollar index by 0.08 percent, while the British pound similarly fell against the dollar to US$1.5285.
Mohamed el-Abyad, head of Egypt’s Bureau de Change Union, attributed the recent currency fluctuations to Greece’s unfolding economic crisis.
Translated from the Arabic Edition.
