Egypt Independent

US dollar to Egyptian pound exchange rates decline at CBE on Tuesday



The US dollar to Egyptian pound exchange rate declined at the Central Bank of Egypt on Tuesday to record LE16.10 for purchase and LE16.20 for sale.

Dollar exchange rates at the National Bank of Egypt and Bank Misr were LE16.09 for purchase and LE16.19 for sale.

At the Alexandria bank, the dollar settled at LE16.11 for purchase and LE16.21 for sale.

The exchange rate meanwhile rose to LE16.11 for purchase and LE16.21 for sale at the Commercial International Bank, the Suez Canal Bank, the Housing and Development Bank, the Arab African International Bank, HSBC, and the Arab Bank.

Dollar prices at Bank al-Qahera, Credit Agricole, al-Barka bank, the United Bank of Egypt, Abu Dhabi Islamic Bank, the National Bank of Kuwait, BLOM Bank, and Audi Bank recorded 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 and secure a three-year US$12 billion loan from the fund.

Edited translation from Al-Masry Al-Youm