Dollar Holds Holds Near 48 Against Egyptian Pound

The US dollar continued to trade near 47.87–47.98 Egyptian pounds (EGP) in Egyptian banks, according to the latest official exchange rate data. 

The Central Bank of Egypt (CBE) reported a representative interbank rate of approximately 47.87 EGP per USD, with selling prices hovering just under 48 EGP in commercial banks.

This level reflects relative stability following recent bouts of volatility in Egypt’s foreign exchange market. Over the past month, the pound has shown modest fluctuations while remaining anchored in the high-40s against the greenback.

At several leading banks, the dollar is buying around 47.87 EGP and selling near 47.97–47.98 EGP.

In some financial institutions such as Abu Dhabi Islamic Bank Egypt, the rate touched slightly higher at about 47.93–48.03 EGP for buying and selling respectively.

While official bank data shows relative calm, some media outlets reported a mix of slight downward pressure on the dollar in certain mid-day trading earlier in the week, highlighting ongoing market sensitivity.

The exchange rate has not returned to the peaks seen in 2025, when the dollar briefly traded above 51 EGP amid tighter foreign exchange conditions and macroeconomic pressures.

Economic analysts say the current range largely reflects a balance between demand for foreign currency, driven by imports and corporate settlement needs, and inflows from tourism revenues, remittances, and international bond issuances that support reserve buffers.

For now, Egyptians transacting dollars through banks or remitting funds can expect the exchange range to stay near 48 EGP per USD, barring sudden market shocks.

The Egyptian pound strengthened by about 11 piastres against the US dollar on Thursday following news that the International Monetary Fund approved the disbursement of $2.3 billion in financing for Egypt after completing key program reviews.

The appreciation came amid positive market sentiment triggered by the completion of the fifth and sixth reviews under Egypt’s Extended Fund Facility agreement and the first review under the Resilience and Sustainability Facility.

The IMF approval unlocked immediate financing for Cairo, reinforcing expectations of improved foreign currency liquidity and supporting the Egyptian pound’s short-term stability.