Egypt Independent

US dollar records stable prices on Thursday

The US dollar exchange rate against the Egyptian pound maintained its price within the banking sector on Thursday.

According to the latest price updates, the exchange rate recorded LE 17.60 for purchase and LE 17.70 for sale in the National Bank of Egypt (NBE), Bank Misr, Bank al-Qahirah, Bank al-Baraka, Al Ahli Bank of Kuwait (ABK) and the Arab African International Bank (AAIB).

In the National Bank of Greece (NBG) and Bank of Alexandria, the US dollar settled at LE 17.59 for purchase and LE 17.69 for sale.

In the Commercial International Bank (CIB), US dollar stood at LE 17.58 for purchase and LE 17.68 for sale.

In HSBC bank and the Abu Dabi International Bank (ADIB), US dollar recorded LE 17.61 for purchase and LE 17.71 for sale.

In November, Egypt’s central bank floated the local currency against the dollar which led to the weakening of the pound and a sharp rise in inflation rates.

Edited Translation from al-Masry al-Youm