Dollar, Euro Rise Against Egyptian Pound by End of Trading

The U.S. dollar strengthened against the Egyptian pound at the close of trading on Sunday, extending a recent upward trend across most banks operating in Egypt’s banking sector. 

The euro also posted broad gains, reflecting continued pressure on the local currency amid persistent external financing challenges.

Dollar

According to end-of-day data, the dollar recorded a modest increase in major state-owned banks. At the National Bank of Egypt, the currency stood at EGP 52.63 for buying and EGP 52.73 for selling. The same rates were observed at Banque Misr, signaling relative pricing alignment among leading institutions.

Euro

Meanwhile, the euro also advanced against the pound across major banks. At both the National Bank of Egypt and Banque Misr, the European currency was priced at EGP 61.44 for buying and EGP 61.82 for selling by the end of trading.

The upward movement comes as Egypt navigates a demanding external debt repayment schedule. A recent report by Standard & Poor’s highlighted that the country faces obligations totaling approximately $4.2 billion during the 2025/26 fiscal year, including $1.2 billion due in April 2026 alone. These are followed by $2.9 billion in 2026/27, $3.4 billion in 2027/28, and $1.3 billion in 2028/29, underscoring sustained refinancing pressures over the medium term.

The agency warned that debt servicing continues to exert significant strain on public finances. Interest payments accounted for roughly 82% of total government revenues and consumed the entirety of tax revenues during the first nine months of the current fiscal year, highlighting the weight of Egypt’s debt burden.

Despite these pressures, Standard & Poor’s noted that Egypt enters the current phase with a comparatively stronger external position than in previous crises. This resilience is supported by higher international reserves, a more flexible exchange rate regime, and ongoing backing from international financial institutions.

Recent economic reforms, particularly the liberalization of the exchange rate, have helped unlock funding from the International Monetary Fund and other global partners. In addition, Egypt has benefited from substantial investment inflows from Gulf Cooperation Council countries, providing a measure of stability to the financial system.