US dollar backs down to LE18

The US dollar exchange rate against the Egyptian pound slightly declined to settle at LE18 on Tuesday.

According to updated prices, the US dollar exchange rate fell to LE17.90 for purchase and LE18 for sale, from LE17.93 for purchase and LE18.02 for sale at the Abu Dhabi Islamic Bank (ADIB).

The rate went down to LE17.90 for purchase and LE18 for sale at al-Baraka Bank, but jumped up to LE17.92 and LE18.02, from LE17.84 and LE17.94, at the National Bank of Greece (NBG).

The rate settled at LE17.89 for purchase and LE17.99 for sale at Bank of Alexandria, and dropped to LE17.82 for purchase and LE17.92 for sale at the National Bank of Egypt (NBE) .

And at both Arab African International Bank (AAIB) and Bank Misr, the rates recorded LE17.84 for purchase and LE17.94 for sale.

“Currency rates have raised up and down after the Central Bank of Egypt (CBE) floated the Egyptian pound on 3 November 2016” said banking experts

The US dollar exchange rate had surpassed LE18 against the Egyptian Pound at bank’s closing session on Sunday.


Edited translation from Al-Masry Al-Youm


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