Dollar Jumps, Euro Rises Against Egyptian Pound

The U.S. dollar recorded a sudden surge against the Egyptian pound at the close of trading on Wednesday, climbing across most local banks compared with its levels earlier in the day. 

The euro also advanced broadly, reflecting continued pressure in the foreign exchange market.

The late-session move comes amid heightened market volatility and renewed demand for foreign currency.

In parallel developments, the Central Bank of Egypt announced that remittances from Egyptians working abroad reached a historic high in 2025.

According to the central bank, remittance inflows rose by 40.5% year-on-year to approximately $41.5 billion, compared with about $29.6 billion in 2024, marking the highest annual figure on record.

Egypt also received around $3.5 billion as part of a broader $7.5 billion Qatari investment commitment tied to the development of a luxury real estate and tourism project in the North Coast’s Al-Alamein area.

Meanwhile, the banking sector’s net foreign assets increased to the equivalent of $25.452 billion at the end of December, up from $23.731 billion in November, reflecting a monthly rise of roughly $1.7 billion.

At the Central Bank of Egypt (CBE) the US dollar recorded 47.88 to buy and  48.02 to sell against the Egyptian pound.

The euro recorded 56.40 to buy and  56.57 to sell, while the pound Sterling was traded at 64.68 to buy and 64.89 to sell.

Dollar Rates at Major Banks

The dollar posted gains across leading lenders:

Abu Dhabi Islamic Bank: EGP 48.12 (buy) / 48.22 (sell)

Kuwait Finance House: EGP 47.92 / 48.02

First Abu Dhabi Bank: EGP 47.90 / 48.00

HSBC: EGP 47.90 / 48.00

Arab International Bank: EGP 47.90 / 48.00

National Bank of Kuwait: EGP 47.88 / 47.98

Other banks reported similar ranges, with most quotations clustering just below the EGP 48 threshold for buying.

The euro followed a similar upward trajectory, strengthening in most banks by the end of the session.

Key euro rates included:

Abu Dhabi Islamic Bank: EGP 56.65 (buy) / 56.93 (sell)

Kuwait Finance House: EGP 56.42 / 56.70

HSBC: EGP 56.39 / 56.67

CIB: EGP 56.37 / 56.66

NBE: EGP 56.37 / 56.65

Banque Misr: EGP 56.37 / 56.65

The strengthening of both major currencies suggests persistent demand for foreign exchange, even as official data points to improved external inflows and a buildup in net foreign assets.