The Governor of the Central Bank of Egypt, Tarek Amer, said that the situation has improved greatly since the flotation of the pound, pointing out that the foreign exchange problem in Egypt has been resolved, despite the challenges. Foreign exchange rates on Tuesday morning were relatively stable. The US dollar exchange rate at the National Bank of Egypt and Banque Misr recorded LE17.95 for purchase, and LE18.05 for selling. At the Commercial International Bank (CIB), Al-Baraka Bank of Egypt, and Alexandria Bank, the price of the dollar recorded LE18.05 for purchase, and LE18.15 for sale. In Abu Dhabi Islamic Bank, the dollar exchange rate rose by 5 piasters to record LE 18.07 for purchase and LE18.17 for sale.

Source: Egypt Independent May 16, 2017 13:57 UTC