The Central Bank of Egypt (CBE) issued a statement regarding the exchange rate of the pound, confirming that the Egyptian exchange market is heading in a positive direction after the dollar price fell to below LE29.61 by the end of Monday’s trading.

The CBE stated that the dollar fell after it rose to LE32 on Wednesday.

According to the CBE’s statement, it has covered more than two billion dollars of requests from Egyptian importers during the past three days, in addition to covering other requests from Egyptian bank customers, which confirms the ability of the banking sector to cover pending currency requests for importers as soon as possible.

The Central Bank added, in the statement, that it had monitored a group of positive indicators in the exchange market, represented by a significant increase in foreign exchange earnings within banks, whether from the local market or the proceeds of remittances from Egyptian expatriates.