Cairo – Mubasher: The US dollar reached a record-buy high at HSBC where it reached EGP 18.9 per USD during Friday's mid-trades.
At Banque du Caire, the dollar saw its lowest selling price today of EGP 18.7.
The USD-EGP pair recorded EGP 18.6 for buying and EGP 18.7 for selling at the National Bank of Egypt (NBE) and Banque Misr, reached EGP 18.65 and EGP 18.75 for buying and selling, respectively at the Commercial International Bank Egypt (CIB) and BlomBank Egypt.
On 3 November 2016, the Central Bank of Egypt (CBE) decided to float the Egyptian pound against the US currency so that the pricing is set by the supply and demand for the greenback.
The CBE had also decided to raise interest rates by 300 basis points.
The floatation comes as part of the Egyptian government's agreement with the International Monetary Fund (IMF) for a $12 billion loan.
