Egypt Independent

US dollar exchange rate stable during Sunday trading



The US dollar exchange rate was stable against the Egyptian pound at the beginning of Sunday morning trading within Egypt banks.

The National Bank of Egypt (NBE), Banque Misr, al-Baraka Bank, al-Ahli Bank of Kuwait, HSBC, Bank of Alexandria, and The Arab African International Bank set dollar prices at LE 17.70 for selling, and LE 17.60 for buying.

Abu Dhabi Islamic Bank (ADIB) and the National Bank of Greece held the dollar at LE 17.69 for sale, and buying at LE 17.59.

Banque du Caire and the Commercial International Bank (CIB) set dollar prices at LE 17.68 for selling, and LE 17.58 for buying.

Egypt floated the national currency on November 3 and devalued the Egyptian pound by about a third from the former price earnings per growth (PEG) of LE 8.8 against the dollar and allowed it to drift lower.

Edited Translation from MENA