Egypt Independent

US dollar exchange rate in Egypt shows slight decline

The US dollar to Egyptian pound exchange rate declined by three piasters in the Central Bank of Egypt on Sunday, recording LE15.92 for purchase and LE16.05 for sale.

The dollar settled at LE15.96 for purchase and LE16.09 for sale, meanwhile, at the National Bank of Egypt, Bank Misr, and Bank al-Qahera.

The dollar declined by four piasters at Alex Bank, recording LE15.94 for purchase and LE16.03 for sale.

The dollar exchange rate dropped by six piasters at Audi Bank, Suez Canal Bank, and al-Baraka Bank, recording LE15.95 for purchase and LE16.15 for sale

Dollar exchange rates declined by four piasters to reach LE15.93 for purchase and LE16.04 for sale at Arab Bank.

The dollar settled at LE15.96 for purchase and LE16.06 for sale at the Commercial International Bank (CIB), the Housing and Development Bank, the Arab African International Bank (AAIB), Credit Agricole, the National Bank of Kuwait, The United Bank of Egypt, and HSBC.

And the dollar fell to 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 International Monetary Fund and secure a three-year US$12 billion loan from the fund.

Edited translation from Al-Masry Al-Youm