Egypt Independent

US dollar prices continue declining in Egyptian markets



Dollar prices continued declining in the local exchange market against the Egyptian pound on Thursday after seeing a reduction of LE1.30 since January 2019.

According to the latest price updates, the dollar decreased by one piaster in the National Bank of Egypt (NBE) and Bank Misr, recording LE16.54 for purchase and LE16.64 for selling.

In the Arab African International Bank (AAIB), the dollar recorded LE16.55 for purchase and LE16.65 for selling.

In Alexandria Bank, the dollar declined by three piasters, recording LE16.53 for purchase and LE16.63 for selling.

In the National Bank of Greece (NBG), the dollar recorded LE16.55 for purchase and LE16.65 for selling.

Egypt floated the national currency on November 3, 2016. It devalued the Egyptian pound by about a third from the former peg of LE8.8 against the dollar, allowing it to drift lower.

Edited translation from Al-Masry Al-Youm