The Egyptian foreign exchange market witnessed a renewed movement in the US dollar, which recovered some of its losses and recorded slight gains against the Egyptian pound in today's trading. This movement comes after a prolonged period of losses for the greenback against the national currency, reflecting a degree of flexibility in the exchange market subject to supply and demand mechanisms.
Details of exchange rates in Egyptian banks
According to statistics compiled by Al Arabiya Business, exchange rates varied slightly between different banks, providing multiple options for customers:
- Highest price: Suez Canal Bank recorded the highest exchange rate for the US dollar at 47.34 Egyptian pounds for buying and 47.44 Egyptian pounds for selling .
- Lowest price: The lowest exchange rate for the dollar at the National Bank of Kuwait was 47.21 Egyptian pounds for buying and 47.31 Egyptian pounds for selling .
- The Central Bank of Egypt: The dollar exchange rate recorded a balanced level at 47.22 Egyptian pounds for buying and 47.36 Egyptian pounds for selling.
- Major banks: At the National Bank of Egypt, the dollar was trading at 47.30 Egyptian pounds for buying and 47.40 Egyptian pounds for selling. Meanwhile, at Banque Misr and Qatar National Bank (QNB), the rate was 47.25 Egyptian pounds for buying and 47.35 Egyptian pounds for selling.
- Other banks: The Egyptian Export Development Bank, the National Bank of Kuwait, and HSBC recorded a unified price of 47.26 Egyptian pounds for buying and 47.36 Egyptian pounds for selling.
Background of economic performance and recovery indicators
This slight increase cannot be viewed in isolation from the overall performance of the Egyptian pound over the past period. The pound concluded 2025 with a strong and notable performance, appreciating by approximately 6.7% against the dollar since the beginning of last year. This improvement did not occur in a vacuum, but was supported by several fundamental economic factors, most prominently the record surge in remittances from Egyptians working abroad, which are a vital source of foreign currency reserves.
Restoring liquidity and its impact on the market
The restoration of dollar liquidity in the banking sector has significantly contributed to eliminating the parallel market and narrowing the price gap, thereby boosting the confidence of investors and international institutions in the Egyptian economy. The availability of foreign currency in banks facilitates imports and the provision of production inputs, which positively impacts price stability in the local market.
2026 Predictions: The Positive Cycle
Economic forecasts widely indicate that the Egyptian pound is poised for further appreciation in 2026. This optimism stems from the country's transition from a years-long "currency devaluation spiral" to what experts describe as a "positive cycle" of improvement and sustainable growth. This structural shift hinges on continued foreign currency inflows from tourism, exports, and foreign direct investment, laying the foundation for a new era of financial and monetary stability.
