Dollar Jumps Sharply Against Egyptian Pound to 47.65

The U.S. dollar recorded a sudden increase against the Egyptian pound during trading on Thursday, according to the latest exchange rate updates from state-owned and private banks operating in Egypt.

Currency movements remain under close watch across the country, as fluctuations in the dollar and other foreign currencies directly impact domestic pricing,  particularly for imported goods that are sensitive to exchange rate changes.

The dollar was trading at EGP 47.51 to buy and EGP 47.65 and to sell, based on data released by the Central Bank of Egypt (CBE).

Meanwhile, Arab currencies declined against the Egyptian pound in Thursday’s trading.

The Saudi riyal was priced at EGP 12.66 for buying and EGP 12.70 for selling at the National Bank of Egypt. 

As for the UAE dirham, it recorded EGP 12.93 for buying and EGP 12.97 for selling.

The U.S. dollar moved higher on Thursday, pulling away from its recent lows and holding onto gains after minutes from the latest meeting of the Federal Reserve showed policymakers are in no rush to cut interest rates.

According to the meeting record, several officials signaled they would prefer to keep borrowing costs elevated until inflation shows clearer signs of easing. The minutes also indicated that a number of policymakers remain open to further rate hikes should price pressures persist.

The hawkish tone supported U.S. Treasury yields, which climbed in response, reinforcing demand for the greenback across global markets.

In early Asian trading, the dollar remained firm against both the euro and the Japanese yen. The euro held below the psychologically significant $1.18 level, reflecting sustained support for the U.S. currency amid expectations that interest rates could stay higher for longer.