Cairo – Mubasher: the USD exchange rate declined against the Egyptian pound (EGP) in early Thursday's transactions at Egypt-based banks.
The X-rate was set at EGP 15.2-25 per dollar for bids and EGP 15.65-16 per dollar for asks, according to Credit Agricole, Banque du Caire, National Bank of Egypt, Banque Misr, and the Arab African International Bank.
Bank Al Baraka recorded the highest USD buying rate at EGP 15 per dollar, the lowest rate was EGP 15.65 per dollar at Banque Misr.
Earlier, the Central Bank of Egypt decided to free float the EGP and to hike key policy rates by 300 points.
