The currency traded at EGP 51.04 for buying and EGP 51.18 for selling on Sunday, strengthening by EGP 0.87, or nearly 1.7 percent, from Thursday’s closing rates of EGP 51.91 and EGP 52.05, respectively.
The pound also gained EGP 0.71, or 1.4 percent, from last Sunday's rates of EGP 51.75 for buying and EGP 51.89 for selling.
Despite the recovery, the pound remains around EGP 3.2, or 6.6 percent, weaker than its pre-conflict rate of EGP 47.9 against the US dollar. However, this marks an improvement from the value loss of 8.4 percent recorded on Thursday and 8.1 percent last Sunday.
Across local banks, the highest exchange rates on Sunday ranged between EGP 51.05 and EGP 51.97 for buying and between EGP 51.15 and EGP 52.07 for selling at ten banks, including HSBC, Al Ahli Bank of Kuwait, and QNB.
Meanwhile, the lowest rates stood at EGP 51.02 for buying and EGP 51.12 for selling at three banks, including Crédit Agricole Egypt, Al Baraka Bank Egypt, and CIB.
Other currencies
The euro weakened against the Egyptian pound, trading at EGP 59.05 for buying and EGP 59.21 for selling on Sunday, down from EGP 59.87 and EGP 60.03, respectively, on Thursday. The European currency nevertheless remains around EGP 2.6 above its pre-conflict level.
The British pound traded at EGP 68.43 for buying and EGP 68.63 for selling, down from EGP 69.37 and EGP 69.56, respectively, on Thursday. It nevertheless remains nearly EGP 3.7 above its pre-conflict level.
Gulf currencies also weakened against the Egyptian pound. The Kuwaiti dinar traded at EGP 166.7 on Sunday, down from EGP 169.45 on Thursday and EGP 168.91 a week earlier. Meanwhile, the Bahraini dinar edged down to EGP 135.77 from EGP 138.07 on Thursday and EGP 137.63 last Sunday.
The Omani riyal traded at EGP 132.95, down from EGP 135.20 on Thursday and EGP 134.78 a week earlier, while the Jordanian dinar fell to EGP 72.29 from EGP 73.52 on Thursday and EGP 73.29 last Sunday.
According to CBE data, Gulf currencies have depreciated against the Egyptian pound by between EGP 0.84 and nearly EGP 9.6 since the outbreak of the US-Israeli war on Iran.
Gold
Gold prices rose on Sunday, ending last week's downward trend.
The gold sovereign (geneih dahab) traded at EGP 50,000 on Sunday, up by EGP 1,480 from EGP 48,520 on Thursday, according to gold trading platform iSagha. However, it remained EGP 1,800 below its level of EGP 51,800 recorded a week earlier.
Meanwhile, 24-karat gold followed a similar trend, trading at EGP 7,142.25, up by EGP 210.75 from EGP 6,931.5 on Thursday. Nevertheless, it remained around EGP 257.75 below last Sunday's level of EGP 7,400.
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