Arab Finance: The exchange rate between USD and EGP went down during Wednesday’s mid-session, August 5, recording EGP 49.70 for buying and EGP 49.80 for selling at the United Bank.
Meanwhile, the USD traded at EGP 49.71 for purchase and EGP 49.81 for sale at Banque Misr by 10:52 AM.
It was quoted at EGP 49.73 for buying and EGP 49.83 for selling at the Commercial International Bank (CIB) and the National Bank of Egypt (NBE).
Earlier on August 3, the dollar weakened after the US and Japan jointly intervened in the foreign exchange market to support the Japanese yen, marking the first coordinated currency intervention between the two countries in decades.