The US dollar declined against the Egyptian pound in the domestic market, reaching about EGP 15.97 to buy and EGP 16.10 to sell on average at banks on Monday, marking its lowest level since February 2017.
The price of the American currency also declined in Al Ahli Bank of Kuwait, Arab Investment Bank, Emirates NBD, HSBC, Housing & Development Bank, recording EGP 15.99 for buying and EGP 16.09 for selling.
Meanwhile, it recorded EGP 15.98 for buying and EGP 16.08 for sale in the Commercial International Bank, Ahli United Bank Kuwait, and Alex Bank.
Meanwhile, the US dollar lost five piasters in the National Bank of Egypt, recording EGP 16.00 for buying and EGP 16.10 for selling, but did not dip below EGP 16.
The price of the US dollar against the local currency has witnessed a noticeable decline in banks since the beginning of this year, with the improvement of hard currency flows, especially from tourism and remittances.