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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 dollar price at the National Bank of Egypt and Bank Misr dropped by two dollars, rising to 16.48 pounds at the 16.58 lb purchase and the sale, while the dollar price at the Commercial International Bank fell by 4 piastres to 16.46 pounds at the purchase and 16.56 pounds for sale, while in the Arab African International Bank lost 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 a pound and 35 piastres since the beginning of this year. While the exchange rate in Egyptian banks is determined by the mechanism of supply and demand, which began with the liberalization of the exchange rate on November 3, 2016, plus the foreign exchange supply "Dollar" is important and the dollar falls with demand.
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