As Egypt's Central Bank has offered its 18th FX auction and the second since the new governor hold office, the exchange rate of the U.S. dollar rose on Wednesday to EGP 6.71 (buy price) and EGP 6.74 (sell price), representing an increase of EGP 0.1. The Central Bank of Egypt (CBE) has offered on Wednesday US$ 50 million to local banks in its 18th FX auction so as to address the dollar shortage at banks. Belal Khalil, Deputy Chairman of the Foreign Exchange Division of the Federation of the Chamber of Commerce, said the price of the U.S. currency rose today by EGP 0.1 only noting that canceling the commissions for the non-traders during their transactions has contributed to lessen dollar's record increase during the previous period. Currencies' exchange rates against the Egyptian pound according to the National Bank of Egypt (NBE) are as follow: Currency Buy Price Sell Price US Dollar 6.7119 6.742 Euro 9.0502 9.2707 Pound Sterling 10.4675 10.7237 Swiss Franc 7.3089 7.4851 Japanese Yen 7.1353 7.3078 Saudi Riyal 1.7847 1.8028 Kuwaiti Dinar 23.6546 24.3797 UAE Dirham 1.8212 1.8316
