The US dollar exchange rate maintained downward trend during transactions at major banks on Monday, following a period of relative stability.

The dollar value has been steadily decreasing this year, hitting more than EGP 1.20 lower since January.

At the National Bank of Egypt and Banque Misr, the dollar rate declined by five piasters recording EGP 16.60 for buying and EGP 16.70 for selling.

Whereas at the Commercial International Bank, the dollar rate registered EGP 16.57 for buying and EGP 16.67 for selling.

The dollar price also went down by eight piasters recording EGP 16.58 for buying and EGP 16.68 for selling at the Arab African International Bank.

Likewise, the dollar value dropped by seven piasters at the Bank of Alexandria, registering EGP 16.58 for buying and EGP 16.68 for selling.