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

 

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