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Wednesday, the dollar fell during the negotiations against the pound in several banks operating in Egypt, a few days after the stability of the green currency exchange rate.
According to the latest update, the price of the dollar at the National Bank of Egypt and Bank Misr fell by two dollars to 16.48 pounds on the purchase and 16.58 pounds on the sale, against 4 piastres at 16.46 pounds for sale and 16.56 pounds for sale. Arab African International Bank withdrew a penny to record 16.49 pounds at the purchase and 16.59 pounds for sale.
At the National Bank of Greece, the Agricultural Bank and the Bank for Export Development, the dollar was set at LE 16.50 for the purchase and sale for LE 16.60.
It should be noted that the dollar has fallen more than one pound and 35 piastres since the beginning of this year. While the exchange rate of Egyptian banks is determined according to the mechanism of supply and demand, which started with the liberalization of the exchange rate on November 3, 2016, plus the foreign exchange supply "dollar" and its decline Demand for it has fallen with the dollar.
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