The Egyptian pound strengthened against both the U.S. dollar and the euro at the close of trading on Sunday, with most local banks reporting slightly lower exchange rates for the two major currencies.
The U.S. dollar's buying rate ranged between EGP 51.25 and EGP 51.38 across the banking sector, reflecting modest declines from previous levels.
The currency move came as Egypt continues to benefit from improving foreign currency inflows. According to the Central Bank of Egypt (CBE), remittances from Egyptians working abroad rose 31.2% during the July–May period of fiscal year 2025/26, reaching approximately $43.1 billion, compared with $32.8 billion during the corresponding period a year earlier.
On a monthly basis, remittance inflows increased 13.5% in May 2026, climbing to around $3.9 billion from $3.4 billion in May 2025.
The CBE also reported a further increase in Egypt's net international reserves, which rose to $55.1 billion at the end of June 2026, up from $53.134 billion a month earlier, underscoring the country's improving external financial position.
However, the composition of reserves shifted during the month. Gold holdings declined to $16.784 billion at the end of June from $18.776 billion in May, while Special Drawing Rights (SDRs) edged down to $444 million, compared with $448 million in the previous month.
Separately, Fitch Ratings said Egypt's more flexible exchange rate regime has played a key role in absorbing the impact of foreign capital outflows, helping strengthen the credibility of the country's economic policies and limiting the effects of regional geopolitical tensions on Egypt's sovereign credit profile. The agency affirmed Egypt's 'B' sovereign rating with a Stable Outlook.
The Institute of International Finance (IIF) expects Egypt's economy to experience a modest slowdown in growth during fiscal year 2026/27, while inflation, government debt, foreign exchange reserves, and capital inflows continue to show gradual improvement.
The IIF forecasts Egypt's real GDP growth at 3.5% in fiscal year 2026/27, compared with an estimated 4.1% in 2025/26 and 4.4% in 2024/25, while remaining above the 2.4% growth recorded in 2023/24.
At the National Bank of Egypt, the U.S. dollar closed at EGP 51.27 for buying and EGP 51.37 for selling. Banque Misr quoted the dollar at the same levels, with a buying rate of EGP 51.27 and a selling rate of EGP 51.37.
The euro also weakened across most lenders. At both the National Bank of Egypt and Banque Misr, the single European currency closed at EGP 58.27 for buying and EGP 58.56 for selling.
Euro, Dollar Equal in Exchange Rates for 1st Time in 20 Years
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