The dollar continued its rise against the Egyptian currency this week, following significant gains throughout March, amid an increased outflow of hot money from the secondary market for Egyptian government debt due to the outbreak of war in Iran.
Highest price
According to a survey conducted by Al Arabiya Business, the highest exchange rate for the US dollar was recorded at Alexandria Bank, Commercial International Bank, Faisal Islamic Bank, First Abu Dhabi Bank, Next Bank, Abu Dhabi Islamic Bank, SAIB Bank, and Suez Canal Bank, at a level of 54.55 Egyptian pounds for buying and 54.65 Egyptian pounds for selling.
The lowest exchange rate for the US dollar at the Export Development Bank was 53.85 Egyptian pounds for buying and 53.95 Egyptian pounds for selling.
In the National Bank of Egypt, Al Baraka Bank, Misr Bank, Abu Dhabi Commercial Bank, Credit Agricole, Midbank, Arab Bank and Egyptian Gulf Bank, the dollar was priced at 54.50 Egyptian pounds for buying and 54.60 Egyptian pounds for selling.
record jump
At the Central Bank of Egypt, the exchange rate of the US dollar was recorded at 54.51 Egyptian pounds for buying and 54.65 Egyptian pounds for selling.
The Egyptian pound ended 2025 with a strong performance, rising 6.7% against the dollar since the beginning of last year, supported by a record jump in remittances from Egyptians working abroad and the recovery of liquidity in the banking sector.
The Egyptian pound is under a number of pressures due to the war on Iran, which has raised energy prices to high levels, prompting the government to take measures to protect the sustainability of providing services related to petroleum products and electricity.
