Egypt’s pound at 18.42 – 18.45 against U.S. dollar

Egypt’s pound currency has eased by 10 piasters to the U.S. dollar in midday interbank dealings on Wednesday.

The currency had been trading at around 15.7 pounds to the dollar a day prior to the country’s central bank decision to depreciate the pound by more than 10 percent against the U.S. dollar and to hike interest rated by 100 basis points in a surprise monetary policy meeting on Monday morning.

The pound was quoted between 18.32 and 18.35 to the dollar for buying and 18.42 and 18.45 for selling, according to the National Bank of Egypt (NBE), CIB-Egypt, AlexBank, Arab African International Bank (AAIB), Suez Canal Bank, HSBC, Emirates NBD, Arab International Bank (AIB), Faisal Islamic Bank, QNB Alahli, and SAIB.