The dollar exchange rate against the Egyptian pound witnessed a decline at the beginning of trading today, Thursday, as it broke the 49-pound barrier for the dollar, driven by the relative improvement in global markets in addition to the improvement in local economic indicators.

The pound exchange rate against the dollar had witnessed an increase in trading last week, as it reached 49.55 pounds for the dollar, against the backdrop of global economic developments related to US economic data that showed the possibility of the economy heading towards recession, in addition to the possible escalation in the Middle East.