Egypt Independent

US dollar prices in Egypt continue decline on Sunday: CBE



US dollar prices continued their decline in several banks in Egypt on Sunday, according to price updates issued by the Central Bank of Egypt (CBE).

Dollar prices have decreased by one pound since January 2019.

The dollar declined by two piasters, recording LE16.83 for purchase and LE16.93 for selling in the National Bank of Egypt (NBE) and Bank Misr.

The dollar was unchanged in the Commercial International Bank (CIB), recording LE16.81 for purchase and LE16.91 for selling.

The dollar declined by two piasters in the Arab African International Bank (AAIB) and Alexandria Bank, recording LE16.81 for purchase and LE16.91 for selling.

The dollar recorded LE16.85 for purchase and LE16.90 for selling in the National Bank of Greece (NBG).

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 US$12 billion loan.

Edited translation from Al-Masry A-Youm