Cairo – Mubasher: The US dollar continued to increase against the Egyptian pound during early trading at local banks on Monday, almost hitting EGP 16 for the first time in five months.

The USD went up to EGP 15.86 for purchasing and EGP 15.96 for selling at the National Bank of Egypt (NBE), Banque Misr, and Misr Iran Development Bank.

In addition, the USD rose to EGP 15.88 for buying and EGP 15.99 for selling at Arab African International Bank (AAIB) and Commercial International Bank (CIB).

Similarly, the greenback increased to EGP 15.88 for purchasing and EGP 15.98 for selling at the United Bank and Al Ahli Bank of Kuwait.