Egypt Independent

US dollar prices in Egypt decline at average of 2 piasters



US dollar prices declined against the Egyptian pound on Tuesday in several Egyptian banks at an average of two piasters, said the Central Bank of Egypt, with the dollar falling by over LE1.50 piasters since January 2019.

According to price updates, the dollar declined by two piasters, recording LE16.19 for purchase and LE16.29 for selling in the National Bank of Egypt and Bank Misr.

In the Central Bank of Egypt, the dollar declined by two piasters, recording LE16.18 for purchase and LE16.28 for selling.

In the Arab African International Bank, the dollar declined by three piasters, recording LE16.18 for purchase and LE16.28 for selling.

In the National Bank of Greece, the dollar declined by two piasters, recording LE16.21 for purchase and LE16.31 for selling.

In Suez Bank, the dollar declined by two piasters, recording LE16.18 for purchase and LE16.28 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 US dollar and allowed it to drift lower.

Edited translation from Al-Masry Al-Youm