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The price of the US dollar in banks and money exchanges fell, on Monday, to about 15.84 pounds for purchase, and 15.97 pounds for sale, according to the Central Bank of Egypt, while in the National Bank of Egypt – the largest government bank in the market – 15.88 pounds for purchase, and 15.98 pounds for sale.
In the Commercial International Bank, the price of the US currency, after the closing of transactions, today, reached 15.86 pounds for purchase, 15.96 pounds for sale. On the other hand, the dollar price remained relatively high in several banks, including the Egyptian Arab Real Estate, Credit Agricole – Egypt, at 15.91 pounds for purchase, 16.01 pounds for sale.
Well-informed banking sources linked the decline of the dollar locally, to the convening of the central bank’s monetary policy committee next Thursday to discuss the fate of interest rates on deposits and loans, after the committee’s restructuring, with the decision of the new bank’s board of directors.
The sources attributed the dollar’s decline to pumping new investments from foreign investors into government debt instruments – treasury bills and bonds, amid expectations that the interest will remain unchanged, next Thursday.