US Dollar rate continues it rising trend for 2nd day in row in Egypt

The Egyptian pound continues its losses against the green back in Thursday’s transactions at major banks. The rate of the US dollar rose against the Egyptian pound to a new record high. The highest rate stands at EGP 26.65 for buying and EGP26.70 for selling in Abu Dhabi Islamic Bank.

The lowest rate for the US dollar was in the National Bank of Egypt and Banque Misr at EGP 26.25 pounds for buying, and EGP26.30 for selling.

While the rate of the US dollar in the Suez Canal Bank and Credit Agricole Egypt reached about EGP 26.40 pounds for buying and EGP 26.50 for selling at the beginning of today's transactions

 The rate of the US dollar in Abu Dhabi Commercial Bank and the Commercial International Bank  also increased to reach EGP26.30 for buying and EGP 26.40 for selling.

The Egyptian pound lost over 10 percent of its value against the US dollar in Wednesday’s transactions at major banks, a few hours after the National Bank of Egypt (NBE) and Banque Misr offered new 25-percent-yield saving certificates