The price of the dollar at the CBE on Sunday registered EGP 17.5995 for buying and EGP 18.0354 for selling, versus EGP 17.6765 for buying and EGP 18.1127 for selling on Thursday. In banks, the buying price ranged between EGP 17.5-17.77, while selling ranged around EGP 17.75-18.2. On Wednesday, the dollar recorded its highest level at the CBE since the flotation at EGP 17.7486 for buying and EGP 18.1462 for selling. Yehia Aboul Fotouh, vice chairperson of the National Bank of Egypt (NBE), said that the flotation decision placed the price of the pound subject to supply and demand. He told Daily News Egypt that all countries that followed the same policy saw volatility in their national currency value before stabilising.

Source: Daily News Egypt December 04, 2016 14:23 UTC