Dollar stable at major banks after wave of drops against EGP

The exchange rate of US dollar was relatively stable during morning transactions on Tuesday at major banks after a wave of drops over the past two days that reached about 30 piasters, recording its biggest daily retreat in two years.

The dollar exchange rate settled at 17.61 pounds for buying and 17.71 pounds for selling at the National Bank of Egypt and Banque Misr.

The price at the Commercial International Bank was stable at 17.60 pounds for buying and 17.70 pounds for selling.

At the Arab African International Bank, Bank of Alexandria and Abu Dhabi Islamic Bank the rate recorded 17.58 pounds for buying and 17.68 pounds for selling.

At the National Bank of Greece, it recorded 17.57 pounds for buying and 17.67 pounds for selling.