Dollar
The optimistic expectations are backed by the increase in the foreign currency in Egypt due to the return of tourism and foreign investment.
The dollar rate declined one piaster, standing at LE 16.1 for buying and LE 16.2 for selling, according to a statement by the National Bank of Egypt.
It clarified the decline will take place as the Egyptian authorities would loosen their grip on the pound over the coming weeks.
CBE’s governor referred to global talks about how Egypt preceded the current conditions by controlling the economy.
The source said the decision came in light of a trend by all international central banks to down the interest rate on dollars.
At the Central Bank of Egypt, the dollar rate went up by one piaster to register LE 15.66 for buying and LE 15.78 for selling.
The US dollar jumped five piasters in most Egyptian banks recording LE 15.65 for buying and LE 15.75 for selling at Al Ahli bank of Kuwait K.S.C.
At the National Bank of Egypt, the dollar rate receded four piasters, standing at LE 15.58 for buying and LE 15.68 for selling.
The US currency gained two more piasters, making its rate ranges at banks between LE 15.53 to LE 15.57 for buying and LE 15.63 to LE 15.67 for selling.
The dollar exchange rate at the Central Bank of Egypt remained stable at LE 15.49 for buying and LE 15.59 for selling, losing about 50 piasters since the start of 2020.
At the Central Bank of Egypt, the dollar rate went down by two piasters to register LE 15.54 for buying and LE 15.64 for selling.
The exchange rate declined below levels of LE 16 to the dollar in December and continued to drop, reaching levels of LE 15.64 at the moment, which is due to several factors.
The Egyptian pound continues to rise against the US dollar, recording its highest value in three years today.
Speaking to MENA on Sunday, the source said the inflows were in the form of remittances of Egyptians working abroad and new foreign investments.
The Egyptian pound continues to rise against the US dollar, recording its highest value in three years today.
The Egyptian pound continues to rise against the US dollar, recording its highest value in three years today.
At the National Bank of Egypt and Banque Misr the dollar price recorded LE 15.68 for buying and LE 15.78 for selling.
The US dollar exchange rate dropped during transactions on Tuesday at a number of major banks in Egypt.
At the National Bank of Egypt and Banque Misr, the dollar rate declined by two piasters, recording LE 15.71 for buying and LE 15.81 for selling.
At the National Bank of Egypt and Banque Misr the dollar price recorded LE 15.75 for buying and LE 15.85 for selling.