U.S. dollar continues to decrease against Egyptian pound

The U.S. dollar exchange rate continued to decrease on Monday at Egypt’s major banks, recording 16 pounds on average.

At the National Bank of Egypt and Banque Misr, the dollar exchange rate declined four piastres, recording 15.98 pounds for buying and 16.08 pounds for selling.

The dollar exchange rate decreased by nine piastres at the Commercial International Bank and the Arab African International Bank, registering 16.05 pounds for buying and 16.15 pounds for selling.

At the Suez Bank, the dollar registered 16 pounds for selling and 16.01 pounds for buying, while at the Abu Dhabi Islamic Bank, it registered 16.07 pounds for selling and 16.16 pounds for buying.

The depreciation of the U.S. dollar against the Egyptian pound by the end of the year was forecast by experts based on the dollar’s performance throughout 2019.

The dollar’s value has dropped by more than 1.75 pounds since the beginning of 2019.

Source: Ahram Online