Egyptian Pound Weakens as Dollar Closes Above EGP 52 Across Major Banks

The U.S. dollar ended Sunday’s trading session at record levels against the Egyptian pound, closing above EGP 52 across most local banks in Egypt’s banking sector, reflecting continued pressure on the local currency.

Dollar Exchange Rates at Egyptian Banks

At the close of trading, the U.S. dollar traded above the EGP 52 threshold in most banks:

Al Ahli Bank of Kuwait – Egypt: buying at EGP 52.17, selling at EGP 52.27

Suez Canal Bank: buying at EGP 52.15, selling at EGP 52.25

Abu Dhabi Islamic Bank – Egypt: buying at EGP 52.15, selling at EGP 52.25

Arab International Banking Company: buying at EGP 52.14, selling at EGP 52.24

In several other banks, the dollar traded at nearly identical levels:

Kuwait Finance House – Egypt: buying at EGP 52.12, selling at EGP 52.22

QNB Alahli: buying at EGP 52.12, selling at EGP 52.22

AlexBank: buying at EGP 52.11, selling at EGP 52.21

Crédit Agricole Egypt: buying at EGP 52.11, selling at EGP 52.21

Export Development Bank of Egypt: buying at EGP 52.11, selling at EGP 52.21

The same levels were recorded at major state and private lenders including National Bank of Egypt (NBE), Banque Misr, Commercial International Bank (CIB), Arab International Bank, and Egyptian Gulf Bank, where the dollar closed at EGP 52.11 for buying and EGP 52.21 for selling.

According to data released by the Central Bank of Egypt (CBE), total foreign currency deposits in the banking sector declined to the equivalent of EGP 2.948 trillion by the end of January 2026, compared with EGP 3.003 trillion at the end of December 2025.

Despite the drop in foreign currency deposits, Egypt’s net foreign assets at the central bank increased during January, rising by approximately $4 billion to reach about $29.5 billion, equivalent to roughly EGP 1.385 trillion, compared with $25.5 billion at the end of 2025.

Meanwhile, remittances from Egyptians working abroad continued to provide a strong inflow of foreign currency. Official data showed that remittances reached a record $41.5 billion in 2025, marking a 40.5% increase compared with $29.6 billion in 2024, the highest level ever recorded.

In a separate development, Qatari Diar transferred around $3.5 billion as part of an investment agreement tied to the development of a luxury real estate and tourism project in the Alam El-Roum area on Egypt’s northwestern Mediterranean coast. The payment forms part of a broader $7.5 billion Qatari investment commitment in the project.

Dollar Exchange Rate