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Egypt Independent: US dollar passes the LE19 mark

The increase is the single highest shift after the stability that lasted three days at the national banks.
20.12.16 | Interesting article at Egypt Independent

The US dollar exchange rate has hit a new high of LE18.75 for purchasing and LE18.95 for selling, up from LE18.15 for buying and LE18.40 for selling at the three national banks: National Bank of Egypt, Banque du Caire and Banque Misr; marking an increase of 45 piasters during transactions this morning, Al-Borsa newspaper reported.



The increase is the single highest shift after the stability that lasted three days at the national banks; however, the hikes were marked at private banks starting this week.



The purchasing rate at Commercial International Bank (CIB) reached LE18.8, while the selling rate reached LE19. Meanwhile, the purchasing rate at Abu Dhabi Islamic Bank reached LE18.8, while the selling rate reached LE19.15.



The exchange rates have been fluctuating at banks in accordance with the supply and demand of US dollars, since the flotation of the Egyptian pound in November.