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Tuesday, 28 January 2020

US dollar continues to depreciate against Egyptian pound

Ahram Online , Monday 16 Dec 2019
FILE PHOTO: A man displays US dollar (Reuters)
FILE PHOTO: A man displays US dollar (Reuters)
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The US dollar exchange rate continued to decrease on Monday at Egypt's major banks, recording EGP 16 on average.

At the National Bank of Egypt and Banque Misr, the dollar exchange rate declined four piastres, recording EGP 15.98 for buying and EGP 16.08 for selling.

The dollar exchange rate decreased by nine piastres at the Commercial International Bank and the Arab African International Bank, registering EGP 16.05 for buying and EGP 16.15 for selling. 

At the Suez Bank, the dollar registered EGP 16 for selling and EGP 16.01 for buying, while at the Abu Dhabi Islamic Bank, it registered EGP 16.07 for selling and EGP 16.16 for buying.

The depreciation of the US dollar against the Egyptian pound by the end of the year was forecast by experts based on the dollar's performance throughout 2019.  
The dollar's value has dropped by more than EGP 1.75 since the beginning of 2019.

 

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