Dollar exchange rate stable at Egypt major banks at year end

CAIRO - 2 January 2021: The US dollar exchange rate was stable Sunday at the start of the year for the fourth month in a row during transactions at Egypt's major banks.

That is attributed to economic reforms made by the Central Bank of Egypt and the support of the political leadership that led to more economic and political stability, some banking experts told MENA Thursday.

It has mainly contributed to attracting direct and indirect foreign investments, they said.

At the National Bank of Egypt (NBE) and Banque Misr, the dollar rate remained stable, recording LE 15.64 for buying and LE 15.74 for selling.

The dollar rate also registered LE 15.68 for buying and LE 15.76 for selling at the Commercial International Bank (CIB), Credit Agricole, HSBC, BLOM Bank Egypt.

According to the Central Bank of Egypt (CBE), the average dollar rate at the Egyptian market registered LE 15.66 for buying and LE 15.75 for selling.

The euro price registered LE 17.69 for buying and LE 17.87 for selling at the Banque Misr and the NBE.

At the CIB, the euro price was LE 17.62 for buying and LE 17.92 for selling.

Meanwhile, the pound sterling at the NBE and Banque Misr registered LE 21.06 for buying and LE 21.32 for selling.

The Saudi riyal price stood at LE 4.18 for buying and LE 4.19 for selling.