Egypt Independent

US dollar prices continue decline against Egyptian pound in several banks



US dollar prices continued declining against the Egyptian pound in several banks on Wednesday.

According to the latest update prices released by the Central Bank of Egypt, the IS dollar declined by two piasters, recording LE15.97 for purchase and LE16.10 for sale.

The dollar declined by one piaster at the National Bank of Egypt, Bank Misr, and the al-Qahira bank, recording LE16.01 for purchase and LE16.11 for sale.

At the Alexandria Bank the dollar declined by two piasters, recording LE15.98 for purchase, and LE16.08 for sale.

The dollar recorded LE16.01 for purchase and LE16.11 for sale at the Audi Bank, the Suez Canal Bank, and al-Baraka Bank.

At the Arab bank, the dollar was sold at LE15.99 for purchase and bought at LE16.09.

The dollar recorded LE15.99 for purchase and LE16.09 for sale at the Commercial International Bank, the Housing and Development Bank, the Arab African International Bank, Credit Agricole, the National Bank of Kuwait, and HSBC.

And the dollar settled at LE16.03 for purchase and LE16.13 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 IMF and secure a three-year $12 billion loan.

Edited translation from Al-Masry Al-Youm