The US dollar to Egyptian pound exchange rate at the Central Bank of Egypt increased on Wednesday to record LE15.92 for purchase and LE16.02 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.
The dollar rose by one piaster at the Commercial International Bank, HSBC, Credit Agricole, the Housing and Development Bank, the United Bank, the Suez Canal Bank, the Abu Dhabi Islamic Bank and the Arab African International Bank, recording LE15.93 for purchase and LE16.03 for sale.
The dollar exchange rate increased by two piasters at the Audi Bank, al-Baraka Bank, and the Arab Bank, recording LE15.93 for purchase and LE16.03 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 and secure a three-year US$12 billion loan from the fund.
Edited translation from Al-Masry Al-Youm