Exchange rate of the dollar against the Egyptian pound

Dollar exchange rates showed relative stability in Wednesday's trading against the Egyptian pound in several banks operating in Egypt.

The dollar has fallen more than 40 pounds since the beginning of this year.

According to the latest update, the dollar was settled at the National Bank of Egypt and Bank Misr, registering 16.41 LE for the purchase and 16.51 for the sale.

The dollar was also settled at Commercial International Bank to record 16.39 pounds to buy and 16.49 pounds to sell.

In contrast, the dollar at the African African International Bank fell by one pence to 16.40 pounds on the purchase and 16.50 pounds on the sale.

At the National Bank of Greece, the dollar fell by two dollars to 16.41 pounds on the purchase and 16.15 pounds on the sale.

The exchange rate in Egyptian banks is determined by the supply and demand mechanism that began with the liberalization of the exchange rate on November 3, 2016. More foreign currency supply, the dollar, is large and the lower the demand for it, the lower the dollar.