Over the past few days, the exchange rate of the US dollar in Egypt has experienced some unstable changes, finally exceeding EGP 27 in nearly all Egyptian and private banks.
The currency’s price passed the EGP 26-mark last week, specifically on January 4, after being stable for several months. This came parallel to the newly released 25% interest rated certificates from the NBE and Banque Misr.
Last December, the monetary policy committee at the Central Bank in Egypt increased the deposit and lending rates to 16.25% and 17.25%, respectively.
In their quest to halt the current alarming inflation in Egypt, the CBE also raised the interest rates by 300 basis points throughout one night on Thursday, December 22.
Earlier this morning, the CBE released the prices of the US dollar at Egypt’s banks, so here are Tuesday’s prices:
Banque du Cairo (Cairo Bank)
LE27.5 for purchase
LE27.55 for sale
Suez Canal Bank
LE27.15 for purchase
LE27.25 for sale
United Bank
LE27.15 for purchase
LE27.26 For sale
ALEXBANK
LE27.55 for purchase
LE27.65 for sale
National Bank of Egypt
LE27.4 for purchase
LE27.45 for sale
Banque Misr
LE27.4 for purchase
LE27.45 for sale
Housing and Development Bank
LE27.55 for purchase
LE27.65 for sale
Abu Dhabi Islamic Bank
LE27.61 for purchase
LE27.65 for sale
Commercial International Bank
LE27.45 for purchase
LE27.55 for sale
