Egypt Independent

US dollar to Egyptian pound exchange rate rises by 2 piasters at CBE



US dollar to Egyptian pound exchange rates rose by two piasters on Monday at the Central Bank of Egypt in favor of the dollar, reaching LE16.12 for purchase and LE16.22 for sale compared to LE16.10 for purchase and LE16.24 for sale on Sunday.

Dollar exchange rates at the National Bank of Egypt, Bank Misr, and Alexandria Bank increased to LE16.11 for buying and LE16.21 for selling.

Dollar exchange rates at the Arab African International Bank, the National Bank of Kuwait, the Commercial International Bank, the BLOM Bank, the Suez Canal Bank, and the HSBC bank rose to LE16.13 for purchase and LE16.23 for sale.

And dollar exchange rates at the al-Barka Bank, the Housing and Development Bank, the Credit Agricole Bank, the United Bank of Egypt, and the Abu Dhabi Islamic Bank increased to LE16.13 for purchase and LE16.24 for sale.

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 (IMF) and secure a three-year US$12 billion loan from the fund.