Egypt Independent

US dollar exchange rates in Egypt continue to rise



US dollar–Egyptian pound exchange rates in banks across Egypt increased in favor of the dollar on Tuesday.

The exchange rate for US dollars at the Central Bank of Egypt (CBE) was set at LE15.87 for purchase and LE15.97 for sale, compared to LE15.83 for purchase and LE15.80 for sale on Monday.

Dollar exchange rates at the National Bank of Egypt (NBE) and Bank Misr increased by four piasters, reaching LE15.86 for purchase and LE15.96 for sale.

The dollar price at al-Baraka Bank reached LE15.81 for purchase and LE15.91 for sale.

The dollar exchange rate was LE15.87 for purchase and LE15.97 for sale at Bank al-Qahira, the Commercial International Bank (CIB), the Bank of Alexandria, the Arab African International Bank (AAIB), and Suez Canal Bank.

The dollar maintained its prices at Bank Audi, recording LE15.70 for purchase, and LE15.80 for sale.

Dollar rates were LE15.88 for purchase and LE15.98 for sale in Credit Agricole, HSBC and the Housing and Development Bank.

The dollar price was LE15.77 for purchase and LE18.87 for sale at the Abu Dhabi Islamic Bank.

Egypt devalued its currency by 48 percent in 2016, allowing it to float freely in order to meet a key demand by the International Monetary Fund (IMF) and secure a three-year US$12 billion loan from the fund. 

Edited translation from Al-Masry Al-Youm