The US dollar exchange rate against the Egyptian pound has seen slight fluctuations in mid-trading on Monday, , across Egyptian banks. The Central Bank of Egypt (CBE) maintained its rate at 46.71 Egyptian pounds for buying and 46.84 pounds for selling, according to reports.
Banque Misr and the National Bank of Egypt both posted rates of 46.70 pounds for buying and 46.80 pounds for selling. The Commercial International Bank (CIB) offered a rate of 46.65 pounds for buying and 46.75 pounds for selling. Al Ahli Bank and Banque du Caire also reflected similar rates, with 46.65 pounds for buying and 46.75 pounds for selling.
Other banks showed minor variations. The Housing and Development Bank quoted 47.43 pounds for buying and 47.53 pounds for selling. Abu Dhabi Islamic Bank offered 47.18 pounds for buying and 47.28 pounds for selling. SAIB Bank listed 47.48 pounds for selling, while MIDBANK and The United Bank of Egypt both quoted 47.10 pounds for buying and 47.20 pounds for selling.
These rates reflect the ongoing dynamic in the Egyptian foreign exchange market. Recent reports indicate a broader positive shift in outlook for Egypt’s economy in 2026, with financial institutions upgrading their assessments of the Egyptian pound, inflation, and overall economic growth. This upgrade comes after a period of significant currency devaluation and economic challenges.
The CBE’s official exchange rate, remaining stable today, provides a benchmark for commercial banks. However, the slight variations among banks highlight the competitive pressures and individual risk assessments within the Egyptian banking sector. The rates offered by Banque Misr and the National Bank of Egypt, two of the largest state-owned banks, are particularly significant as they often influence market sentiment.
The fluctuations observed today are relatively minor, falling within a narrow band. According to data from Wise, the exchange rate has fluctuated over the past week between a high of 46.98 pounds on , and a low of 46.70 pounds on . This suggests a period of relative stabilization following more substantial movements in previous months.
The reported upgrades from financial institutions, as noted by ZAWYA-SNG, signal increased confidence in Egypt’s economic trajectory. These upgrades likely factor in recent government policies aimed at stabilizing the currency, controlling inflation, and attracting foreign investment. However, the sustainability of this positive outlook will depend on continued implementation of these policies and favorable global economic conditions.
The exchange rates at various banks as of today, , are as follows:
- Banque Misr: 46.70 pounds for buying, 46.80 pounds for selling
- Bank Misr: 46.70 pounds for buying, 46.80 pounds for selling
- Bank of Alexandria: 46.65 pounds for buying, 46.75 pounds for selling
- CIB: 46.65 pounds for buying, 46.75 pounds for selling
- Al Baraka Bank: 46.65 pounds for buying, 46.75 pounds for selling
- Crédit Agricole: 46.65 pounds for buying, 46.75 pounds for selling
- Bank Al Ahli: 46.65 pounds for buying, 46.75 pounds for selling
The slight differences in rates across banks provide opportunities for individuals and businesses to optimize their foreign exchange transactions. However, it is crucial to consider factors beyond just the headline rate, such as transaction fees and the bank’s overall reliability. The availability of US dollars may also vary between banks, potentially influencing the rates offered.
The Egyptian pound has faced significant pressure in recent years due to a combination of factors, including a widening current account deficit, declining foreign reserves, and geopolitical instability. The government has implemented a series of measures to address these challenges, including securing loans from international financial institutions and implementing fiscal reforms. The recent positive outlook from financial institutions suggests that these efforts are beginning to yield results, but continued vigilance and prudent economic management will be essential to ensure long-term stability.
Looking ahead, the exchange rate will likely remain sensitive to a range of factors, including global commodity prices, investor sentiment, and the pace of economic reforms. Monitoring these developments will be crucial for businesses and individuals operating in the Egyptian market.
