Dollar Drops 4 Pt. Against Egyptian Pound

The US dollar exchange rate dropped 4 piastres against the Egyptian pound during Sunday's transactions.

Since the start of this year, the greenback has dropped by more than EGP 1.75, backed by growth in the Egyptian economy as well as the increase of foreign reserves in the country.

The dollar's rate declined by 4 piastres At the National Bank of Egypt (NBE) and Banque Misr, to record EGP 16.05 for buying and EGP 16.15 for selling.

The rate also decreased by 2 piastres at the Commercial International Bank (CIB), and the Arab African International Bank (AAIB) registering EGP 16.05 for buying and EGP 16.15 for selling.

As for the National Bank of Greece, the dollar price decreased 2 piastres, registering EGP 16.05 for buying and EGP 16.15 for selling.

Also, the dollar price dropped at the United Bank of Egypt (UB) to record EGP 16.03 and EGP 16.13.