The US dollar exchange rate made a new decline against the Egyptian pound on Monday, falling 2 piasters at Banque Misr and the National Bank of Egypt. The US dollar exchange rate has decreased by about 25 piasters this January as a result of foreign invvestment in government debt instruments, which reports indicated exceeded two billion dollars since the beginning of January. In December, the exchange rate fell below the LE16 mark for the first time in three years. At Emirates NBD Bank, Credit Agricole Egypt, Commercial International Bank, Bank of Alexandria, and Ahli United Bank the dollar is being sold at LE15.83 and bought at LE15.73. The Egyptian pound was formerly pegged at LE8.8 against the US dollar.

Source: Egypt Independent January 27, 2020 11:26 UTC