Egypt Independent

US dollar rates continue to decline



The price of the US dollar in Egyptian banks has continued to decline against the Egyptian pound for the fourth day consecutively.

The lowest purchase price for the dollar on Thursday was recorded in the Banque du Caire at LE17.80, while the highest was in the Commercial International Bank (CIB) at LE17.96.

According to bankers, the decline is due to an increased supply of US currency.

In the National Bank of Egypt and the National Bank of Greece, the dollar price was recorded at LE17.82 for purchase and LE17.92 for sale — two piasters less than on Wednesday.

In Bank Misr, Bank of Alexandria, the Arab African Bank and Baraka Bank dollar prices rose by five piasters compared to Wednesday.

In Abu Dhabi Islamic Bank, the dollar price is currently LE17.85 for purchase and LE17.95 for sale.

Meanwhile, Qatari riyal rates declined on Thursday in the National Bank of Egypt by one piaster, resulting in a purchase price of LE4.62 and sale price of LE4.86.

 

Edited translation from Al-Masry Al-Youm