The Egyptian pound strengthened at banks, as foreign investor confidence picked up, and backlogs of USD orders to finance imports eased. The USD was being bought for cEGP17.75 at most banks on Thursday, down from cEGP18.75 last week. Banks were paying clients cEGP17.8 per dollar. On Thursday’s interbank market, the dollar was traded at cEGP17.87-17.88 buying and a range of EGP17.99-18.03 selling, compared with cEGP18.09-18.10 for buying and EGP18.20-18.22 for selling on Wednesday, Central Bank of Egypt (CBE) data showed. Bankers said there had also been a sharp rally in treasuries this week, which transferred into the secondary market and was reflected in the pound to dollar exchange rate. (Reuters, CBE)