Egyptian Pound Holds Steady as Dollar Declines in Local Banks

The US dollar remained stable against the Egyptian pound on Friday, following a fresh decline recorded across several local banks at the close of the previous trading session, according to official exchange rates published by Egypt’s major lenders.

The pause in dollar movements comes after the greenback fell in 8 banks on Thursday, signaling easing pressure in the foreign exchange market after recent volatility.

According to the latest updates posted on bank websites, the official exchange rates stood as follows:

Central Bank of Egypt (CBE):

47.19 to Buy, 47.33 to sell

National Bank of Egypt (NBE):

47.23 Egyptian pounds to buy, 47.33 to sell, down 2 piastres on both sides

Banque Misr:

47.23 pounds to buy, 47.33 to sell, down 2 piastres

Banque du Caire:

47.23 pounds to buy, 47.33 to sell, down 2 piastres

The uniform pricing across major state-owned banks reflects a period of relative calm in the currency market after the latest adjustment.

The recent dip in the dollar comes amid closer monitoring of liquidity conditions and foreign currency flows, as authorities continue to manage exchange-rate stability following earlier fluctuations.

Currency traders say the stability suggests short-term balance between dollar supply and demand, though movements remain sensitive to external financing developments, remittance inflows, and global market conditions.