Egyptian Pound Firms Against Dollar, Euro as Exchange Rates Stabilize Across Banks

The Egyptian pound posted modest gains against the U.S. dollar at the close of trading on Sunday, with exchange rates across major Egyptian banks showing limited fluctuations amid improving foreign-currency liquidity and continued growth in remittances from Egyptians working abroad.

The dollar traded within a narrow range between EGP 52.50 and EGP 52.60 Egyptian for buying transactions, reflecting relative stability in Egypt’s foreign-exchange market.

Banque Misr and National Bank of Egypt both recorded a dollar buying price of EGP 52.51 and a selling price of EGP 52.61 by the end of the session.

The highest buying rate for the U.S. currency was registered at Abu Dhabi Islamic Bank Egypt at EGP 52.60, while the lowest buying price stood at EGP 52.50 in several banks, including Industrial Development Bank, Arab African International Bank, Al Ahli Bank of Kuwait - Egypt and Next Bank.

Market observers said the relative stability in exchange rates continues to be supported by a strong increase in remittances from Egyptians abroad, which have recently recorded significant growth according to data from the Central Bank of Egypt.

The rise in remittance inflows has helped strengthen dollar liquidity in the banking sector, easing pressure on the foreign-exchange market and supporting broader economic stability.

Euro 

Meanwhile, the euro showed mixed performance against the Egyptian pound at the close of trading.

The highest euro buying price was recorded at Arab African International Bank at EGP 61.75, while the lowest buying level of EGP 61.55 was seen at Faisal Islamic Bank of Egypt, SAIB Bank and Crédit Agricole Egypt.

At both Banque Misr and National Bank of Egypt, the euro was bought at EGP 61.57 and sold at EGP 62.02.

Analysts described trading conditions as cautiously calm, with most banks maintaining closely aligned exchange rates amid balanced demand and sufficient foreign-currency availability, reinforcing expectations of continued stability in Egypt’s banking market during the week ahead.