Dollar Surpasses 52.50 to Reach Record High Against Egyptian Pound

The U.S. dollar climbed against the Egyptian currency on Thursday, surpassing the 52-EGP level for the second since the currency was floated, according to data from Egyptian banks and the central bank.

The dollar’s rally comes amid sustained pressure on Egypt’s foreign currency market, driven by capital outflows from short-term government debt instruments and heightened global uncertainty linked to the U.S.–Iran conflict, as well as a stronger U.S. dollar globally.

Analysts say the U.S. currency has been on a steady upward trajectory against the Egyptian currency since February 19, following the withdrawal of foreign investors from Egyptian treasury bills and bonds, commonly referred to as “hot money.”

The greenback has risen by about 10% against the Egyptian currency since the beginning of the year, including an increase of roughly 1% during Thursday’s trading alone. By the end of the week, the dollar averaged around 52.43 EGP in the banking sector.

Currency traders attribute the rise to a combination of global and domestic pressures, including higher oil prices, global dollar strength, and concerns over foreign portfolio investment flows into emerging markets.

According to the latest data, the exchange rate recorded the following levels across major Egyptian financial institutions:

CBE: 52.38 EGP for buying and 52.52 EGP for selling.

NBE: 52.39 EGP for buying and 52.49 EGP for selling.

Banque Misr: 52.39 EGP for buying and 52.49 EGP for selling.

Bank of Alexandria: 52.29 EGP for buying and 52.39 EGP for selling.

Suez Canal Bank: 52.40 EGP for buying and 52.50 EGP for selling.

CIB: 52.39 EGP for buying and 52.49 EGP for selling.

ADIB: 52.50 EGP for buying and 52.60 EGP for selling.

Market observers note that the Egyptian currency remains sensitive to foreign portfolio flows, global interest rate expectations, and geopolitical developments affecting energy prices and regional stability.

The recent escalation in tensions in the Middle East, particularly the ongoing conflict involving Iran, has contributed to higher oil prices and increased financial market volatility, factors that can intensify pressure on emerging-market currencies such as Egypt’s.