Egypt Independent

US dollar to Egyptian pound exchange rates show slight decline



US dollar to Egyptian pound exchange rates at the Central Bank of Egypt recorded a slight decline on Monday, settling at LE15.90 for purchase and LE16.03 for sale.

Dollar exchange rates at the National Bank of Egypt, Bank Misr, Bank al-Qahera and Bank of Alexandria fell to LE15.92 for purchase and LE16.02 for sale.

The dollar settled at LE15.92 for purchase and LE16.02 for sale at the Commercial International Bank (CIB), HSBC, Credit Agricole, the Housing and Development Bank, United Bank, Suez Canal Bank, Abu Dhabi International Bank (ADIB), and Arab African International Bank (AAIB).

The exchange rate dropped to LE15.91 for purchase and LE16.01 for sale at the Audi Bank, Suez Canal Bank, al-Barka Bank and Arab Bank.

Dollar prices declined by four piasters at the Commercial International Bank, the Housing and Development Bank, the Arab African International Bank, Credit Agricole, the United Bank of Egypt, the National Bank of Kuwait, and HSBC, recording LE15.92 for purchase and LE16.02 for sale.

The exchange rate declined by eight piasters at al-Baraka bank and Arab Bank, recording LE15.91 for purchase and LE16.01 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.