Egypt Independent

US dollar to Egyptian pound exchange rate declines by two piasters



The US dollar to Egyptian pound exchange rate declined by two piasters at the Central Bank of Egypt on Thursday, recording LE15.95 for purchase and LE16.08 for sale.

The dollar also declined by two piasters at the National Bank of Egypt, Bank Misr, and Bank al-Qahera to reach LE15.99 for purchase and LE16.09 for sale

Dollar exchange rates declined by one piaster to record LE15.97 for purchase and LE16.07 for selling at Alexandria Bank.

The dollar recorded LE16,01 for purchase, and LE16.11 for sale at al-Baraka bank, and LE15.97 for purchase and LE16.07 for sale at the Arab Bank.

The dollar settled at LE15.96 for purchase and LE16.06 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 International Monetary Fund and secure a three-year US$12 billion loan from the fund.

Edited translation from Al-Masry Al-Youm