Egypt Independent

Foreign exchange rates stable at Egypt banks Tuesday

The Governor of the Central Bank of Egypt, Tarek Amer, said that the situation has improved greatly since the flotation of the pound, pointing out that the foreign exchange problem in Egypt has been resolved, despite the challenges.

Amer said that the meeting of the Economic Group, on Tuesday, chaired by Prime Minister Sherif Ismail, discussed the monetary situation in Egypt.

The Egyptian economy has attracted $45 billion over the last six months in new investments, he said, with $8 billion entering the Central Bank after the flotation of the pound. Foreign exchange rates on Tuesday morning were relatively stable.

The US dollar exchange rate at the National Bank of Egypt and Banque Misr recorded LE17.95 for purchase, and LE18.05 for selling.

At the Commercial International Bank (CIB), Al-Baraka Bank of Egypt, and Alexandria Bank, the price of the dollar recorded LE18.05 for purchase, and LE18.15 for sale.

In the Arab African Bank, Banque du Caire and the National Bank of Greece, the price of the dollar reached LE18 for purchase and LE18.10 for sale.

In Abu Dhabi Islamic Bank, the dollar exchange rate rose by 5 piasters to record LE 18.07 for purchase and LE18.17 for sale.

Edited translation from Al-Masry Al-Youm