The US dollar price stabilized against the Egyptian pound in mid-trading, Tuesday, February 28, after a slight rise over the past few days.
Central Bank of Egypt (CBE)
LE30.57 for purchase
LE30.68 for sale
Banque du Caire
LE30.58 for purchase
LE30.65 for sale
Commercial International Bank
LE30.58 for purchase
LE30.68 for sale
Arab African International Bank
LE30.58 for purchase
LE30.68 for sale
ALEXBANK
LE30.58 for purchase
LE30.68 for sale
Abu Dhabi Islamic Bank
LE30.63 for purchase
LE30.68 for sale
National Bank of Egypt
LE30.48 for purchase
LE30.58 for sale
Banque Misr
LE30.48 for purchase
LE30.58 for sale
As long as the price is flexible, there is no way of determining the exchange rate in the market, according to economist Mustafa Badra.
The central bank seeks to reduce pressure on the cash reserve.
This is because the closer the price of the dollar in the central bank is to the price on the market, the less pressure on the US dollar inside the bank, Mohamed Shady, a researcher at the Egyptian Center for Strategic Studies, said.
When the price of the US dollar in Egyptian banks is equal to that on the market, stability will occur. Therfore the price of the dollar will begin to decline, he added.
