US dollar over LE18 in private banks of Egypt

The US dollar exchange rate witnessed a relatively high increase against the Egyptian pound, and a slight fluctuation among banks at the beginning of Saturday morning trading, where it exceeded the limit of LE18 in private banks, and remained relatively stable in government banks.

Bankers said that the rise or fall in the currency price is the result of the Central Bank of Egypt’s decision to devalue the currency on November 3, and floating the currency means leaving the exchange rate in the official market according to the mechanism of supply and demand without the direct intervention of the Central Bank.

According to the latest update, the exchange rate of the US dollar in Abu Dhabi Islamic Bank (ADIB) exceeded the limit of LE18, recording LE18.02 for selling and LE17.94 for buying, after the end of last week price of LE17.99 for selling and LE17.92 for buying.

The Commercial International Bank (CIB) is selling US dollars at LE18, and buying at LE17.90. Banque du Caire selling at LE17.95, and buying at LE17.85.

Al-Baraka Bank selling US dollars at LE17.99, and buying at LE17.91, comparing to last week price (Thursday) of LE17.89 for buying and selling it at LE17.98.

Bank of Alexandria is selling the US dollar at LE17.99, and buying it at LE17.89 pounds for sale, after it was LE17.95 for selling, and LE17.85 for buying.

In the National Bank of Egypt, the price of the US dollar stabilized at LE17.92 for selling, LE17.82 for buying, and at Arab African Bank, the price of the US dollar is at LE17.95 for selling, and LE17.85 for buying.

Edited Translation From Al-Masry Al-Youm

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