Egypt Independent

US dollar to Egyptian pound exchange rate remain stable



US dollar to Egyptian pound exchange rates remained stable on Thursday 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, United Bank of Egypt, the Bank of Alexandria, al-Baraka Bank, and Commercial International Bank.

The dollar settled at LE15.94 for purchase and LE16.04 for sale at the Abu Dhabi Islamic Bank, the National Bank of Kuwait, Credit Agricole, Arab African International Bank, Bloom Bank, Egypt Gulf Bank, and HSBC.

The dollar was LE15.93 for purchase and LE16.03 for sale at the Housing and Development Bank, Audi Bank, and 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