The Egyptian pound continued its strong performance against the dollar on Monday, recording 15.86 pounds for purchase and 15.96 for sale, to drop the American currency about 14 piasters since last Wednesday.
The Central Bank of Egypt attributed in the statement the movement of the exchange rate to a "noticeable increase" in the banks' foreign exchange resources, especially the investment of cash funds in the Egyptian financial markets.
The central bank said that the total foreign exchange flows to banks recorded about 1.7 billion dollars since last Wednesday.
According to the central bank’s report on foreign exchange rates, the average euro was 17.64 pounds for purchase and 17.76 for sale.
The average pound sterling exchange reached 20.58 pounds for purchase and 20.71 pounds for sale.