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The exchange rate of the dollar against the Egyptian pound after the rate reduction
The dollar exchange rate has stabilized against the Egyptian pound at the start of Sunday trading, in the early trading days after the decision of the central bank to reduce interest rates by 1, 5%, last Thursday.
The dollar exchange rate has stabilized in 10 banks, compared to the level last Thursday night.
The US currency maintained its level at the National Bank of Egypt and Egypt at 16.52 pounds at the purchase and 16.62 pounds for sale.
The dollar also settled in African Arab and Alexandria banks at 16.53 pounds at purchase and 16.63 pounds for sale.
The dollar remained stable at CIB, Housing & Development, Al Baraka, the Suez Canal and Credit Agricole, at 16.55 pounds at purchase and 16.65 at the sale.
She also settled at the Islamic Bank of Abu Dhabi at 16.56 pounds to buy and 16.65 pounds to sell, according to the same source.
It should be noted that interest rates at the Central Bank after the decision of the discount amounted to 14.25% for the deposit and 15.25% for the loans.
The previous central bank rate cut in February was 100 basis points, according to Reuters.
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