US Dollar Soars To EGP 6.90, Yen Falls: NBE

On Thursday, the US dollar’s exchange rate against the Egyptian pound has surged to EGP 6.8711 for buying and EGP 6.9012 for selling to represent an increase of  one piaster, compared to Wednesday’s levels of EGP 6.8603 for buying and EGP 6.8904 for selling, according to the recent data released by the National Bank of Egypt (NBE).

The US dollar’s rise coincided with the 46th FX auction by the Central Bank of Egypt (CBE) of US$ 40 million to local banks in an attempt to fill the banks’ needs for the US currency.

The table below shows the exchange rates of the Arab and foreign currencies against the Egyptian pound on Wednesday according to the National Bank of Egypt (NBE):