Cairo – May 22, 2025: The US dollar continues to slip against the Egyptian Pound, with a modest drop since Wednesday’s close, hitting its lowest rate in the past few months.
The LE is currently LE 49.89 against the greenback, down from yesterday’s close of LE 49.93. (May 22, 3 PM).
Since the start of the current month, the USD had been facing a consecutive downward trend, losing nearly LE 1.8 in recent weeks.
The Egyptian Stock Market (EGX) closed the week in the green, reflecting a positive trend coinciding with the US dollar’s slip.
This decline coincided with the beginning of the fifth review of the financing program between the Egyptian government and the International Monetary Fund (IMF), which is valued at $8 billion.
The Central Bank of Egypt (CBE) has averaged the foreign exchange rate at LE 49.85 for buying and LE 49.95 for selling against the USD; the National Bank of Egypt (NBE) and CIB Egypt currently use the same rates.
The foreign exchange market changes stem from the discussions on the latest US policies, including discussions around the US President Donald Trump's tax cut bill.
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