Egypt: US Dollar hits record high above 56 EGP

Egyptian pound US dollar exchange rate Central Bank of Egypt foreign exchange reserves currency depreciation

The Egyptian pound has faced significant downward pressure, with the US dollar surpassing the 56 EGP mark for the first time in history. During trading on Monday, October 26, 2026, several banks reported dollar selling prices exceeding 56 EGP, including the National Bank of Egypt and CIB.

This currency depreciation follows a period of volatility and is attributed by local reports to the outflow of hot money from the Egyptian market. The movement has also impacted the Egyptian Exchange, with the main index dropping by 3.56% as investors monitor exchange rate developments.

In related economic news, the Central Bank of Egypt reported that foreign exchange reserves reached a record 57.35 billion dollars in September, an increase of 134 million dollars from August. Meanwhile, the Saudi Riyal also saw an increase against the pound, reaching a high of 15.16 EGP at some institutions.

The fluctuations in the exchange rate are raising concerns regarding the cost of construction materials and real estate prices, as developers anticipate higher costs for imported components and finishing materials.

Entities

Banque Misr · CIB · Central Bank of Egypt · Egypt · Ezz Steel · HSBC · Ministry of Petroleum and Mineral Resources · National Bank of Egypt · US dollar

Claims

What the coverage asserts, and how many sources carry each claim.

[● 2 SOURCES] The Central Bank of Egypt's foreign exchange reserves rose to 57.35 billion dollars in September. alsaudi.news
[● 4 SOURCES] The US Dollar selling price exceeded 56 EGP in several Egyptian banks. www.bnokonline.com · www.alaraby.co.uk · alsaudi.news
[○ 1 SOURCE] The price of gasoline 95 increased to 24 EGP per liter.
[○ 1 SOURCE] Diesel prices rose to 20.5 EGP per liter.
[○ 1 SOURCE] Ezz steel prices reached approximately 40,000 EGP per ton.
[○ 1 SOURCE] White chicken prices in local markets average 84 EGP per kilo.
[○ 1 SOURCE] The Egyptian stock market's main index fell by 3.56%. www.alaraby.co.uk
[○ 1 SOURCE] The Saudi Riyal reached a selling price of 15.16 EGP at National Bank of Kuwait. www.alborsaanews.com