US Dollar in Egypt Surpasses 50 Pounds Again
The US dollar exchange rate in Egypt recorded a new high during trading today, with the American currency rising above the 50-eagle level in most Egyptian banks after a period of trading around the 49-eagle mark.
According to a compilation by "Al Arabiya Business," the highest dollar exchange rate was recorded at Crédit Agricole and the Industrial Development Bank at 50.35 eagles for purchase and 50.45 eagles for sale.
Meanwhile, the lowest dollar exchange rate was found at the Emirates NBD at 49.77 eagles for purchase and 49.87 eagles for sale.
At Bank Misr and the Arab African Bank, the dollar exchange rate stood at 50.27 eagles for purchase and 50.37 eagles for sale, while at the National Bank of Egypt, it was 50.21 eagles for purchase and 50.31 eagles for sale.
The Egyptian pound closed the year 2025 with strong performance, rising by 6.7 percent against the dollar since the beginning of last year, supported by a record surge in remittances from Egyptians working abroad and the restoration of liquidity in the banking sector.
Trading by Arabs and foreigners in the secondary market for Egyptian government debt recorded a net sale worth $187 million during trading on the past Wednesday, according to data from the Egyptian Exchange.
The outflow of hot money from the Egyptian market followed a period of positive inflows, as the return of geopolitical tensions contributed to the rise in the dollar's price against the Egyptian pound.
Trading by Arabs and foreigners in the secondary market for Egyptian government debt had previously recorded a net purchase of $554 million during trading on the past Tuesday.
Meanwhile, hot money flows recorded a net purchase worth $11.66 billion during the second quarter of 2026, and approximately $11.6 billion since the beginning of the current year.
The Central Bank of Egypt announced that Egypt's net foreign exchange reserves rose to $55.07 billion in June, compared to $53.134 billion in May, an increase of $1.93 billion.
Egypt's foreign exchange reserves reached a new record high by the end of June 2026, becoming the highest in the country's history.
This steady growth in Egypt's net international reserves is supported by an improvement in the country's sources of foreign currency earnings, as exports have seen a rising trend since the beginning of 2025, along with increased inflows from tourism income and remittances from Egyptians working abroad.
Remittances from Egyptians working abroad rose by 33.2 percent during the first 10 months of the current fiscal year (July/April 2025-2026), reaching approximately $39.2 billion, compared to approximately $29.4 billion during (July/April 2024-2025), according to data from the Central Bank of Egypt.
On a monthly basis, remittances from Egyptians working abroad rose by 44 percent in April 2026, reaching approximately $4.3 billion, compared to approximately $3 billion in April 2025.
Remittances from Egyptians abroad recorded record inflows in 2025, the highest ever, rising by 40.5 percent to reach approximately $41.5 billion, compared to approximately $29.6 billion in 2024.
