The US dollar exchange rate fell against the Egyptian pound on Thursday to stand at LE16 for the first time since November in four banks.
Purchase prices at the CIB, the Suez Canal Bank, and the Principal Bank for Development and Agricultural Credit stood at LE15.90; while at Banque Misr it stood at LE15.95.
The dollar exchange rate continued to decline against the pound for the second consecutive week, with improvement in the dollar liquidity of the banking sector.
At Audi Bank, purchase stood at LE16.45, and LE16.55 for sale.
At the National Bank of Egypt, at 4.30 pm, the dollar rate reached LE16 for buying and LE16.05 for sale; at the Banque du Caire, LE15.95 for buying and LE16.05 pounds for sale; at the AAIB LE16 for buying and LE16.10 for sale.
According to Al-Borsa news website, the average dollar price at 24 banks fell in the market during overnight trading to reach LE16 for buying and LE16.10 for sale; instead of an average of LE16.30 for buying and LE16.40 for sale Thursday morning.