As post-free float trading begins, get to know dollar prices in 16 Egypt banks
Egyptian banks start trading currency on Sunday without central bank restrictions for the first time after policy makers decided to float the pound to attract investments and ease the nation’s dollar crunch.
The decision to abandon currency controls comes as Egypt seeks to secure a $12 billion loan from the International Monetary Fund, an accord that officials say will help restore investor confidence in an economy battered by years of turmoil. The central bank said on Thursday it expects short-term volatility in the exchange rate. The pound tumbled 45 percent against the dollar, before paring losses during the weekend.
The market is currently undergoing a phase of price discovery, and the central bank said it would not to intervene during that initial phase.
The table below demonstrates the selling and buying prices of dollar against the Egyptian pound according to data compiled by Amwal Al Ghad on Sunday. 
|
Bank |
Buying Price |
Selling Price |
|
National Bank of Egypt (NBE) |
15.5 |
16 |
|
Banque Misr |
15.5 |
16 |
|
Banque du Caire |
15.25 |
15.75 |
|
Commercial International Bank (CIB) |
15.7 |
16.3 |
|
Crédit Agricole Egypt |
15.5 |
16 |
|
Housing and Development Bank (HDB) |
15.25 |
16.10 |
|
Faisal Islamic Bank of Egypt |
15.5 |
16 |
|
Al Baraka Bank Egypt |
15.56 |
15.99 |
|
Al Ahli Bank of Kuwait-Egypt |
15.55 |
16 |
|
Suez Canal Bank |
15.75 |
16 |
|
BLOM Bank Egypt |
15.55 |
15.99 |
|
Misr Iran Development Bank (MIDB) |
15.25 |
16 |
|
AlexBank |
15.5 |
16.5 |
|
Export Development Bank of Egypt (EDBE) |
15.5 |
16 |
|
Egyptian Gulf Bank (EGB) |
15.5 |
16.25 |
|
Arab African International Bank )AAIB( |
15.75 |
15.95 |
