Dollar Drops Again in Egypt's Major Banks

The US dollar exchange rate dropped once again during Wednesday transactions at major banks after falling 1-2 piastres yesterday.

The dollar rate declined by one piastre at the National Bank of Egypt (NBE) and Banque Misr, recording EGP 16.14 for buying and EGP 16.24 for selling.

At the Commercial International Bank (CIB), the greenback dropped two piastress, recording EGP 16.12 for buying and EGP 16.22 for selling.

The dollar price remained stable at the Arab African International Bank (AAIB) to register EGP 16.14 and EGP 16.24.

It is worth mentioning that the value of the dollar has dropped more than EGP 1.65 since the beginning of this year.