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US dollar at lowest level since March 2017 - Daily News Egypt

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US dollar at lowest level since March 2017

US dollar loses 2 more piasters on Sunday to take losses to 75 piasters since mid-January 2019

The United States dollar continued declining on Sunday and lost two more piasters of its value, taking total losses since mid-January 2019 to 75 piasters.

The average official price of the US dollar at the Central Bank of Egypt (CBE) reached on Sunday EGP 17.1049 for buying and EGP 17.2279 for selling, compared to EGP 17.1258 for buying, and EGP 17.2575 for selling on Thursday, with a 2.084 piasters and a 2.48 piasters decline respectively.

The average dollar price in banks’ transactions with their clients is EGP 17.1242 for buying, and EGP 17.2242 for selling, compared to EGP 17.1442 for buying and EGP 17.2442 for selling on Thursday.

This is considered the lowest price for the dollar since March 2017.

The US dollar began a downward trend the end of January 2019 and continued this decline throughout February, March, and April, losing more than 75 piasters against the pound. This coincided with the increase in foreign exchange flows into the Egyptian market, with the increase of foreign investments in government debt instruments.

The US currency lost about 17 piasters since the start of April until Sunday.

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