Egypt Independent

No movement on Thursday in US dollar exchange rates in Egyptian banks



The US dollar maintained its price against the Egyptian pound on Thursday, following a slight decline on Wednesday.

The US dollar on Thursday was set at LE16.11 for purchase and LE16.21 for sale at the Central Bank of Egypt.

Dollar exchange rates at the National Bank of Egypt and Banque Misr settled at LE16.11 for purchase and LE16.21 for sale.

The dollar recorded LE16.12 for purchase and LE16.22 for sale at Alexbank, and the Arab Bank.

Dollar prices were LE16.12 for purchase and LE16.22 for sale at Banque du Caire, the Credit Agricole bank, al-Barka Bank, the Housing and Development Bank, the United Bank of Egypt, the Arab African International Bank, Abu Dhabi Islamic Bank, Ahli Bank of Kuwait, Commercial International Bank, BLOM Bank, Audi Bank, the Suez Canal Bank, and HSBC.

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.

Egypt’s currency has increased in value in the years since, but has failed to return to its previous value.

Edited translation from Al-Masry Al-Youm