Egypt Independent

US dollar to Egyptian pound exchange rates fall by 3 piasters



US dollar to Egyptian pound exchange rates fell by an average of three piasters on Monday at the Central Bank of Egypt, recording LE15.88 for purchase and LE15.89 for sale.

The US dollar decreased by three piasters at the National Bank of Egypt, settling at LE15.85 for purchase and LE15.95 for sale, compared to LE15.88 and LE15.98 on Sunday.

At the Abu Dhabi Islamic Bank the dollar declined to LE15.85 for purchase and LE15.95 for sale, compared to LE15.89 and LE15.99 on Sunday.

Bank Misr saw the dollar fall by three piasters, recording LE15.85 for purchase and LE15.95.

The dollar recorded LE15.85 for purchase and LE15.95 for sale at Audi Bank and Bank al-Qahera.

And the dollar was LE15.84 for purchase and LE16.94 for sale at the Commercial International Bank and Alexandria 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.