The exchange rate between the US dollar and the Egyptian pound declined slightly during the banking trade on Tuesday.
Banking experts explained that preventing the exchange of foreign currency in the black market and trading it only within the banking sector has led to the abundance of US dollars, lowering its prices against the Egyptian pound.
According to the latest price updates, US dollar prices declined to LE17.73 for purchase and LE17.83 for sale, from LE17.75 for purchase and LE17.85 for sale in the National Bank of Egypt (NBE).
In the Commercial Bank of Egypt (CIB), the US dollar fell by four piasters, recording LE17.71 for purchase and LE17.81 for sale, from LE17.75 for purchase and LE17.85 for sale.
The US dollar also declined by four piasters in Bank Misr, recording LE17.72 for purchase and LE17.82 for sale and LE17.68 for purchase and LE17.78 for sale in Alexandria Bank.
In Banque du Caire, US dollar price stood at LE17.70 for purchase and LE17.80 for sale, while it dropped by two piasters, recording LE17.75 for purchase and LE17.85 for sale in Arab African International Bank (AAIB).
Edited Translation by Al-Masry Al-Youm