The dollar exchange rate in Egypt today is approaching 48 Egyptian pounds in banks
The US dollar exchange rate against the Egyptian pound saw a notable movement during trading today, with the greenback rising again to approach the 48-pound mark once more, a development closely monitored by traders in the banking market. This price movement comes at a time when the country is experiencing strong inflows of foreign currency, supported by record-breaking levels of remittances from Egyptians working abroad.
Details of exchange rates in Egyptian banks
According to the latest indicators and statistics monitored by “Arabia Business” reports, prices varied between different banks, with the highest exchange rate for the dollar recorded in the Industrial Development Bank, the Arab International Banking Corporation “SAIB”, the Suez Canal Bank, the United Bank, Next Bank, and Abu Dhabi Islamic Bank, reaching a level of 47.87 pounds for buying and 47.97 pounds for selling.
In contrast, the lowest dollar exchange rate was offered by Emirates NBD Bank, at 47.58 Egyptian pounds for buying and 47.68 Egyptian pounds for selling. At major and more widespread banks such as the National Bank of Egypt, Banque Misr, Commercial International Bank (CIB), and Faisal Islamic Bank, the rate remained stable at 47.85 Egyptian pounds for buying and 47.95 Egyptian pounds for selling. The Central Bank of Egypt recorded an average exchange rate of 47.83 Egyptian pounds for buying and 47.97 Egyptian pounds for selling.
The economic context and supply and demand mechanisms
This slight rise in the dollar's value is part of Egypt's flexible exchange rate mechanism, which allows the currency to fluctuate according to market supply and demand. Experts affirm that these movements demonstrate the soundness of the banking system and its ability to absorb daily changes without reverting to price distortions or the emergence of parallel markets. This flexibility is a key component of the economic reforms aimed at bolstering foreign investor confidence and ensuring the sustainability of cash flows.
Unprecedented surge in remittances from Egyptians
Despite the current price fluctuations, overall indicators are encouraging, with the Egyptian pound ending 2025 with a strong performance, rising 6.7% against the dollar compared to the beginning of the year. This stability is primarily attributed to the historic surge in remittances from Egyptians abroad, which are one of the country's most important sources of foreign currency.
These remittances reached their highest level ever in 2025, growing by 40.5% to reach approximately $41.5 billion, compared to $29.6 billion in 2024, according to data from the Central Bank of Egypt. This momentum continued during the first half of the 2025-2026 fiscal year, with remittances increasing by 29.6% to reach $22.1 billion.
Expected impacts locally and regionally
This strong performance in cash flows carries significant economic implications. Domestically, the availability of dollar liquidity helps meet import demands and ensure the supply of essential goods and production inputs, thus helping to curb inflation in the medium term. Regionally and internationally, the stability of the Egyptian exchange market and its ability to attract substantial remittances enhance the credit rating of the Egyptian economy and reassure international financial institutions and investors about the economy's capacity to meet its obligations and overcome global challenges.
