Dollar Drops 5 Pt. Against Egyptian Pound

The price of the US dollar fell on Sunday against the Egyptian pound by 5 piastres, recording EGP 15.90  for purchase and EGP 16.00 for sale in major banks.

The Central Bank of Egypt calculates the price based on the average exchange rates of the US currency against the Egyptian pound.

The Egyptian pound recorded an increase in the Commercial International Bank (CIB), the United Bank of Egypt (UB) and the Bank of Iran to record EGP 15.9 for purchase and EGP 16  for sale.

The price of the dollar declined in the the Arab African International Bank (AAIB), Credit Agricole and the National Bank of Kuwait (NBK), recording EGP 15.91 for purchase and EGP 16.01 for sale.

The greenback also fell at Banque Misr, the National Bank of Egypt (NBE) and the Egyptian Gulf Bank (EGB) to register EGP 15.92 for purchase and EGP 16.01 for sale.

The price of the pound stood at EGP 15.89 for purchase and 15.99 to sell at the Central Bank Purchase during last Thursday's trading.

Meantime, With the beginning of 2019, the Egyptian pound started to achieve successive gains against the US dollar, amid expectations that these gains will continue in 2020.

It is worth mentioning that the value of the dollar has dropped more than EGP 1.65 in the year 2019.