EGP strengthens 15 piasters in parallel market on first day of Ramadan
The EGP has strengthened 15 piasters in the parallel market to EGP10.75 against the USD on Monday, from EGP10.90 recorded on Sunday. This is attributed to a slowdown in demand on USD from individuals and corporates as importers have concluded their trade activities in preparation for the holy month of Ramadan, according to exchange bureau sources. Sources expect the trend to continue during this week and to be reverted towards mid-Ramadan. (Al Borsa)
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