Egyptian Pound Weakens as Foreign Currencies Rally at Sunday’s Close

Egypt’s currency market closed Sunday’s session with the Egyptian pound coming under renewed pressure, as major foreign currencies posted broad gains across both official and commercial banking channels.

The decline in the pound’s value coincided with the full return of banking activity at the start of the week, driving higher demand for foreign exchange and pushing rates upward across the board.

At the Central Bank, the U.S. dollar stabilized above the 53.60-pound mark, registering 53.52 pounds for buying and 53.66 pounds for selling. The greenback’s strength reflects sustained demand from importers and institutional buyers.

Other major currencies followed suit. The euro climbed to 61.59 pounds for purchase and 61.77 pounds for sale, while the British pound reached 70.95 pounds buying and 71.17 pounds selling.

The Kuwaiti dinar continued to lead the market in value, rising to 174.34 pounds for buying and 174.86 pounds for selling, marking one of the most notable increases of the session.

Rates across leading Egyptian banks reinforced the same trend. The National Bank of Egypt and Banque Misr priced the dollar at 53.53 pounds for buying and 53.63 pounds for selling, while the Commercial International Bank (CIB) recorded slightly higher figures.

The euro and pound sterling showed consistent increases across institutions, while the Kuwaiti dinar displayed wider pricing gaps, indicating fluctuating 

The Saudi riyal recorded 14.26 pounds for buying and 14.30 pounds for selling at the Central Bank, while the UAE dirham reached 14.57 pounds and 14.61 pounds, respectively.