The CBE reported closing foreign exchange rates of EGP 50.44/$1 for buying and EGP 50.54/$1 for selling.

The pound exchange rate climbed over EGP 50 for the US dollar for the first time last Thursday.

Last week, Prime Minister Mostafa Madbouly stated that the value of the dollar has fluctuated by four to five percent, ranging between EGP 47 and EGP 49 per dollar, since Egypt adopted a flexible exchange rate in March.

He said similar fluctuations are anticipated in the upcoming months, based on the demand for the dollar.

On Monday, the Banque du Caire reported the highest dollar exchange rates: EGP 50.46/$1 for buying and EGP 50.56/$1 for selling.

Meanwhile, the Commercial International Bank (CIB), The National Bank of Egypt (NBE) and Banque Misr reported the dollar exchange rates: EGP 50.45/$1 for buying and EGP 50.55/$1 for selling.

For Arab African International Bank (AAIB), it reported the dollar exchange rates: EGP 50.55/$1 for buying and EGP 50.45/$1 for selling

Euro

According to the CBE, the euro also increased by 0.50 percent to EGP 53.45 per euro for selling, compared to EGP 53.18 per euro on Thursday.

Moreover, it reached EGP 53.30 per euro compared to EGP 53.04 per euro for buying.

Banque du Caire also reported the highest euro exchange rates, with EGP 53.51 per euro for selling and EGP 53.14 per euro for buying.

Meanwhile, the CIB, NBE and Banque Misr reported EGP 53.13 per euro for buying and EGP 53.50 per euro for selling.

For AAIB, it reported EGP 53.13 per euro for selling and EGP 53.50 per euro for buying.