Egyptian Pound faces pressure as US Dollar nears 54 EGP

The US Dollar has risen against the Egyptian Pound, reaching levels near 54 EGP in several local banks during late October 2026. At the peak of trading, banks such as Bank of Alexandria, First Abu Dhabi Bank, and Abu Dhabi Islamic Bank recorded selling rates of approximately 54.02 EGP.

Government banks, including the National Bank of Egypt and Banque Misr, reported slightly lower rates, with the dollar priced at roughly 53.89 EGP for purchase and 53.99 EGP for sale. This upward trend in the dollar comes despite improved foreign currency inflows from tourism and expatriate remittances, as global energy price volatility and seasonal demand for food commodities continue to impact the local currency.

Economic analysts have expressed concerns regarding future stability, noting that non-deliverable forwards for a 12-month period suggest potential pricing as high as 61.75 EGP. Some experts warn that seasonal demand during Ramadan could further increase the pressure on the Egyptian Pound.