Egypt Independent

Egypt’s US dollar exchange rate rises Monday



US dollar exchange rates against the Egyptian pound increased in banks across Egypt on Monday, compared to Sunday’s exchange rates.

The exchange rate for US dollars at the Central Bank of Egypt was set at LE15.83 for purchase and LE15.80 for selling, compared to LE15.80 for purchase and LE15.90 for selling on Sunday.

Rates at the National Bank of Egypt (NBE) and Bank Misr increased by three piasters, recording LE15.82 for purchase and LE15.92 for selling.

The price of the dollar in ALEXBANK reached LE15.83 for purchase and LE15.93 for selling.

Dollar rates recorded LE15.83 for purchase and LE15.94 for selling at the Bank al-Qahira, the Commercial International Bank (CIB), the HSBC Bank, Audi Bank, the Arab African International Bank (AAIB), and the Suez Canal Bank.

The dollar maintained its prices at Bank al-Baraka, the Abu Dhabi Islamic Bank, Credit Agricole, and the Housing and Development Bank, standing at LE15.77 for purchase and LE15.87 for selling.

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.