Egypt Independent

CBE announces exchange rates for Egyptian pound



US dollar prices varied against the Egyptian pound in several banks on Thursday, according to Central Bank of Egypt (CBE) updated prices.

The average price of the US dollar was recorded at LE16.55 for purchase and LE16.67 for selling, while the average price of the euro recorded LE18.57 for purchase and LE18.71 for selling.

The average price of the sterling pound reached LE20.54 for purchase and LE20.70 for selling.

The average price of the Saudi Riyal recorded LE4.41 for purchase and LE4.45 for selling while the average price of the United Arab Emirates dirham recorded LE4.51 for purchase and LE4.54 for selling. The average price of the Kuwaiti Dinar recorded LE54.34 for purchase and LE54.71 for selling.

Egypt floated the national currency on November 3, 2016. It devalued the Egyptian pound by about a third from the former peg of LE8.8 against the US dollar and allowed it to drift lower.

Edited translation from Al-Masry Al-Youm