The UK-based research firm said that the Egyptian pound’s rebound this year — alongside gains in exports and foreign exchange inflows — is starting to deliver real benefits to the economy.
This marks a significant rebound from the lows of EGP 48.19 and EGP 48.29, respectively, seen on October 1 last year.
Among the banks implementing the changes are the National Bank of Egypt (NBE), Commercial International Bank (CIB), and Arab African International Bank (AAIB).
The Egyptian pound gained ground against the US dollar at the start of this week, bolstered by improved US dollar liquidity and easing geopolitical tensions in the region
Since the start of the current month, the USD had been facing a consecutive downward trend, losing nearly EGP 1.8 in recent weeks
