The US dollar exchange rate rose at the Central Bank of Egypt (CBE) on Tuesday—the sixth day following the Egyptian pound’s flotation—to EGP 17.417 for buying and EGP 17.8427 for selling.
The new rates are up from the Monday amounts of EGP 16.3895 for buying and EGP 17.2308 for selling, with an increase of EGP 1 and EGP 1.5, respectively.
The price on Thursday—the first day the national currency was free floated—registered EGP 14.635 for buying and EGP 14.655 for selling.
In banks, the highest rate for the US dollar recorded EGP 17.8 for buying and EGP 18.25 for selling at Abu Dhabi Islamic Bank—Egypt.
Meanwhile, state-owned banks Banque Misr, Banque du Caire, and the National Bank of Egypt set prices at EGP 17.75 for buying and EGP 17.85 for selling.
Other banks offered similar prices, as competition between banks rose on Tuesday afternoon to attract more dollars.