US dollar exchange rate stable, hovering around LE18

After a week of unstable prices, the US dollar exchange rate was stable during Sunday morning trading.

According the latest updates, the purchasing rate at Banque Misr and the National Bank of Egypt (NBE) registered LE17.95 and the selling rate LE18.05.

At the Commercial International Bank (CIB) and Baraka Bank, the purchasing rate was LE18.05, while the selling rate was LE18.15.

The purchasing rate was slightly lower at Banque du Caire, Bank of Alexandria, the National Bank of Greece and the Arab African International Bank, registering LE18, while the selling rate was LE18.10.

At Abu Dhabi Islamic Bank (ADIB) the purchasing rate was LE18.07 and the selling rate was LE18.17.

Egypt floated the national currency on November 3. It devalued the Egyptian pound by about a third from the former peg of LE8.8 against the dollar and allowed it to drift lower.