Egypt Independent

US dollar exchange rates stay consistent against Egyptian pound



US dollar to Egyptian pound exchange rates at the Central Bank of Egypt (CBE) remained unchanged on Monday, recording LE16.11 for purchase and LE16.21 for sale.

Dollar exchange rates at the National Bank of Egypt (NBE) and Bank Misr, meanwhile, settled at LE16.01 for purchase and LE16.02 for sale.

The dollar on Monday was LE16.11 for purchase and LE16.21 for sale at Alexandria Bank.

The exchange rate increased to LE16.12 for purchase and LE16.22 for sale at the Commercial International Bank (CIB), Bank al-Qahera, al-Barka Bank, Credit Agricole, the Housing and Development Bank, and the United Bank of Egypt.

Dollar prices remained unchanged, however, at the Abu Dhabi Islamic Bank, the Arab African International Bank (AAIB), National Bank of Kuwait (NBK), BLOM Bank, Audi bank, Arab Bank, and HSBC, staying at LE16.12 for purchase and LE16.22 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.

Edited translation from Al-Masry Al-Youm