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EGX 30 14,295.13 -1.69%



Egyptian pound appreciates to highest in over two years, trading at EGP 16.9

Egyptian pound appreciates to highest in over two years, trading at EGP 16.9

Cairo: The Egyptian pound strengthened on Thursday to its highest in over two years, while the US dollar exchange rate continued its downward trend at the close of transaction at major banks.

The currency was trading at 16.9 to the dollar for buying and 17.09 to the dollar for selling, recording less than 17 Egyptian pounds for the first time in two years.

the US dollar exchange rate decline was estimated by around 87 piaster since the beginning of the current year supported by the improve in the Egyptian economy including the Foreign Exchange inflow that exceeded $150 million since the liberalization of the exchange rate.

At the National Bank of Egypt, Banque Misr and the Arab African International Bank, the dollar rate went down by two piasters recording LE 16.99 for buying and LE 17.09 for selling.

The dollar price stood at LE 16.99 for buying and LE 17.09 for selling at the Alexandria Bank.

At the National Bank of Greece, the dollar rate recorded LE 17 for buying and 17.10 for selling.

The dollar price stood at LE 16.99 for buying and LE 17.09 for selling at the Commercial International Bank. Source: Amwal Al Ghad

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