The US dollar to Egyptian pound exchange rate witnessed stable prices on Tuesday at the Central Bank of Egypt, recording LE15.93 for purchase and LE16.03 for sale.
The dollar settled at LE15.92 for purchase and LE16.02 for sale at the National Bank of Egypt, Bank Misr, Bank al-Qahera, and the Bank of Alexandria, United Bank of Egypt, al-Baraka Bank, and Commercial International Bank.
The dollar settled at LE15.94 for purchase and LE16.04 for sale at the National Bank of Kuwait, Abu Dhabi Islamic Bank, the Arab African International Bank, Bloom Bank, Credit Agricole, HSBC, Credit Agricole, and Egypt Gulf Bank.
And the dollar recorded LE15.93 for purchase and LE16.03 for sale at the Housing and Development Bank, Audi Bank, and the Suez Canal 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