Egypt Independent

US dollar exchange rates decline by 2-piaster average



US dollar prices have slightly declined against the Egyptian pound by average of 2 piasters in several banks on Thursday.

According to the updated list of prices, the dollar was sold at LE 17.57 and bought at LE 17.47 in the National Bank of Egypt and Banque Misr, losing 2 piasters compared to Wednesday prices.

In the Arab African International Bank (AAIB), the dollar sold at LE 17.58 and bought at LE 17.48, losing one piaster.

In the Commercial International Bank (CIB), the dollar settled at LE 17.59 for buying and LE 17.49 for selling.

The rate at the Abu Dhabi Islamic Bank (ADIB) declined to LE 17.62 for selling and LE 17.52 for buying, down 3 piasters compared to Wednesday prices.

In Alexandria Bank, the dollar settled at LE 17.59 for selling and LE 17.49 for buying.

In the National Bank of Greece (NBG), the rate also settled at LE 17.59 for selling and LE 17.49 for buying.

Egypt devalued its currency by 48 percent in 2016, allowing it to float freely, in order to meet a key demand by the IMF and secure a three-year $12 billion loan.

Edited translation from Al-Masry Al-Youm