CAIRO – The US dollar exchange rate rose on Monday after remaining stable for six months in row.
At the National Bank of Egypt (NBE) and Banque Misr, the dollar rate upped to LE17.40 for buying and LE17.50 for selling against previous price of LE15.64 for buying and LE15.74 for selling.
The dollar exchange rate also registered LE16.87 for buying and LE16.97 for selling at the Commercial International Bank (CIB).
The monetary policy committee of the Central Bank of Egypt (CBE) decided during an extraordinary meeting on Monday to raise interest rate of deposits and loans for one night.
The MPC also agreed that the price of the CBE’s main operation should rise by 100 points to reach 9.25 per cent, 10.25 per cent and 9.75 percent respectively.
The credit and discount rates were also raised by 100 points to 9.75 per cent.
A CBE statement said Monday that Egypt’s economic reform programme has led to many gains, atop of which raising the efficiency of macroeconomic indicators.
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