Dollar Price Falls Again in Egypt

The US dollar exchange rate in Egypt recorded a slight decline during today’s trading sessions, continuing its downward trend for the second consecutive day.

The dollar fell to its lowest level of 51 Egyptian pounds in several Egyptian banks, as the pace of hot money outflows from Egyptian debt instruments eased.

According to a survey conducted by Al Arabiya Business, the highest rate for exchanging the US dollar was recorded at Abu Dhabi Islamic Bank, at 51.42 pounds for buying and 51.52 pounds for selling.

Meanwhile, the lowest rate was observed at National Bank of Abu Dhabi (NBAD) in Egypt, at 50.40 pounds for buying and 50.50 pounds for selling.

The Egyptian pound ended 2025 on a strong note, appreciating by 6.7% 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.

Data from the Egyptian Exchange showed that Arab and foreign investors recorded a net sale of $1.46 billion in the secondary market for Egyptian government debt during last week’s trading sessions.

The pace of hot money outflows from Egypt resumed after a period of positive inflows, amid renewed geopolitical tensions in the region, which led to an increase in the US dollar’s exchange rate against the Egyptian pound.

In contrast, during June last year, Arab and foreign investors recorded a net purchase of $8.76 billion in the secondary market for Egyptian government debt, while hot money flows recorded a net purchase worth $11.66 billion during the second quarter of 2026.

The Central Bank of Egypt announced that Egypt’s net foreign currency reserves rose to $55.07 billion in June last year, up from $53.134 billion in May, an increase of $1.93 billion.

Egypt’s foreign currency 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 improved sources of foreign currency earnings, as exports have seen a rising trend since the beginning of 2025, alongside increased inflows from tourism income and remittances from Egyptians working abroad.

Remittances from Egyptians working abroad rose by 33.2% during the first 10 months of the current fiscal year (July/April 2025-2026), reaching approximately $39.2 billion, compared to around $29.4 billion during the same period in 2024-2025, according to data from the Central Bank of Egypt.

On a monthly basis, remittances from Egyptians working abroad rose by 44% in April 2026, reaching approximately $4.3 billion, compared to around $3 billion in April 2025.

Remittances from Egyptians abroad recorded record inflows in 2025, the highest ever, rising by 40.5% to reach approximately $41.5 billion, compared to around $29.6 billion in 2024.

In the gold market, prices in Egypt rose during today’s trading sessions, extending their gains for the second consecutive day, amid continued global gold price increases and the ounce reaching $4,068, according to a report by the “Ai Saghah” platform for online gold and jewelry trading.

The price of 21-karat gold, the most traded in the Egyptian market, rose by 50 pounds to reach 5,885 pounds. The price of 24-karat gold stood at approximately 6,726 pounds, while 18-karat gold reached 5,048 pounds. The gold ounce (gold pound) was recorded at 47,080 pounds, while the global price of an ounce of gold rose to $4,068.

Saeed Emababi, CEO of the “Ai Saghah” platform, said that gold markets are currently going through a delicate phase in which multiple influencing factors intersect. He explained that geopolitical tensions in the Middle East continue to support demand for gold as one of the most important safe-haven assets, while expectations of tighter US monetary policy and interest rate hikes continue to exert pressure on the yellow metal.

He added that the Egyptian market is witnessing positive developments, notably a significant narrowing of the price gap in recent days, reflecting improved pricing efficiency and closer alignment of local prices with global market movements. He emphasized that investors are awaiting the outcome of the US Federal Reserve’s meeting, considered the most influential event in determining the direction of gold prices in the coming period.

The “Ai Saghah” report clarified that the Egyptian market has seen a clear improvement in pricing efficiency, as the gap between the local price and the fair value of gold narrowed from 67.29 Egyptian pounds during yesterday’s trading to 48.93 pounds during today’s trading, a decline of approximately 27%.

The report noted that this reduction reflects lower trading margins and faster transmission of global price impacts to the Egyptian market, thereby enhancing pricing transparency and reducing price distortions.