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
The appreciation of the EGP coincides with a broader global decline in the USD, driven by weaker-than-expected economic indicators from the United States.
