U.S. dollar exchange maintains downward trend at Egyptian banks

The US dollar exchange rate maintained downward trend during transactions at major banks on Monday, following a period of relative stability.

The dollar value has been steadily decreasing this year, hitting more than 1.20 pounds lower since January.

At the National Bank of Egypt and Banque Misr, the dollar rate declined by five piasters recording 16.60 pounds for buying and 16.70 pounds for selling.

Whereas at the Commercial International Bank, the dollar rate registered 16.57 pounds for buying and  16.67 pounds for selling.

The dollar price also went down by eight piasters recording 16.58 pounds for buying and 16.68 pounds for selling at the Arab African International Bank.

Likewise, the dollar value dropped by seven piasters at the Bank of Alexandria, registering EGP 16.58 for buying and 16.68 pounds for selling.

Source: MENA