Dollar climbs to strongest since Dec. 2016 vs Egyptian pound

The U.S. dollar strengthened further against the Egyptian pound on Tuesday, trading at 19.07 against the Egyptian currency, its strongest in since December 2016.

In December 2016 just one month after the first depreciation of the Egyptian pound, the greenback rose to 19.06 pounds for buying and 19.51 pounds for selling.

When the local currency was floated for the first time in November 2016, alongside a $12 billion IMF programme that entailed a raft of economic reforms and policy recommendations, the pound reached its lowest ever value of $19.5 in mid-December.

Below the exchange rate of the U.S. dollar against the Egyptian pound in 10 key banks in the North African country as of August 2, 2022.