The Central Bank of Egypt (CBE) stabilized on Sunday the price of the US dollar at 7.93 pounds.

The exchange rate of the US dollar in banks stood at 7.93 pounds for buying and 8.03 pounds for selling, the bankers told MENA.

As for the black market, the dollar price increased to 8.45 pounds for buying and 8.51 pounds for selling.

The CBE devalued the Egyptian pound two times in October to support national economy and increase exports.

In the first time it was devalued by 10 piasters, up from 7.73 to 7.83 pounds to the dollar and in the second time the bank weakened the pound again from 7.83 to 7.93 pounds per dollar.