(3 minutes read)
- The US dollar exchange rate against Egyptian currency was stable on Sunday at the start of the year for the fourth month in a row as evidenced during transactions at Egypt’s major banks.
- This experts mostly attribute to economic reforms carried out by the Central Bank of Egypt and in equal measure due to the support of the political leadership, which paved the way for stability in economic and political arenas
- Inflows of FDI has gone up considerably due to those factors
The US dollar exchange rate against Egyptian currency was stable on Sunday at the start of the year for the fourth month in a row as evidenced during transactions at Egypt’s major banks.
This. experts mostly attribute it to economic reforms carried out by the Central Bank of Egypt and in equal measure due to the support of the political leadership, which paved the way for stability in economic and political arenas. Inflows of FDI have gone up considerably due to those factors.
At the National Bank of Egypt (NBE) and Banque Misr, the dollar rate remained stable. It was LE 15.64 for buying and LE 15.74 for selling. At the Commercial International Bank (CIB), Credit Agricole, HSBC, BLOM Bank Egypt, the dollar rate also registered LE 15.68 for buying and LE 15.76 for selling.
The Central Bank of Egypt (CBE) reported that the average dollar rate was LE 15.66 for buying and LE 15.75 for selling. The same stability was also evidenced in the Euro and Pound prices.
