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Egypt pound steady, gold steadies, savings high

Updated 6 times since CLSTR started tracking revisions of this situation.

What changed

2026-08-01 20:12 UTC → 2026-08-02 06:11 UTC · added removed

Egypt pound steady, gold jumps, steadies, savings surge high

Through late July and early August 2026 the Egyptian pound continued remained confined to trade in a narrow band around 50‑51 EGP per USD, USD band, with major banks quoting roughly around 51.10 EGP on for both buy buying and sell sides. Savings certificates still offered selling. The Central Bank’s rates near 17‑22 % despite inflation near 14 %. Gold prices surged in July, with 21‑carat gold climbing about 5 % from 5,640 EGP at the start of the month to a peak of 6,010 EGP before closing the month at 5,940 EGP per gram. 24‑carat gold reached roughly 6,788 EGP and 18‑carat about 5,091 EGP. Analysts linked the rise to strong local demand (51.07 buy / 51.21 sell) and tight supply, while the price gap to a fair price stayed modest at around 2 %. On 1 August 2026 Egyptian minor variations among commercial banks posted underscored a stable rates for additional Gulf currencies. The foreign‑exchange market. Gulf‑currency quotes also held steady: the Kuwaiti dinar was quoted around 160 EGP (buy) to 165 traded between 159.8‑165.6 EGP (sell) across the National Bank of Egypt, Bank of Egypt (buy/sell) and CIB, the Jordanian dinar around 71.9‑72.3 EGP, while the UAE dirham held at 13.90‑13.94 EGP. The dirham, Saudi riyal remained steady at about 13.60‑13.64 EGP and the Qatari riyal at 14.00‑14.04 EGP, confirming continued confidence in the Gulf economies. stayed near their early‑August levels. Gold prices prices, which had surged in July, showed a modest dip in the region regional pull‑back on the same day. In Kuwait, 1 August 2026, with 21‑karat gold fell in Kuwait falling to 5,885‑5,935 EGP per gram and 24‑karat to 6,725‑6,783 EGP. Saudi listings reported 24‑karat gold listed at 487 SAR per gram, gram. Egyptian market quotes on 2 August 2026 were largely unchanged, with 21‑karat gold at 426 SAR 5,885‑5,935 EGP and 18‑karat 24‑karat at 365 SAR. 6,725‑6,782 EGP per gram. The adjustments reflect localized market reactions after July’s surge. World Gold Council noted a 6 % rise in Egyptian gold‑bar and coin purchases to 6.2 tonnes in Q2 2026, while jewelry demand slipped 4.3 % to 11.1 tonnes, reflecting high inflation and a volatile local currency. High‑yield savings certificates continued to dominate, offering rates near 17‑22 % despite inflation hovering around 14 %. Overall, the pound stayed calm, gold experienced prices steadied after a brief but notable surge before stabilising, dip, and high‑yield savings products continued to dominate remained attractive in the monetary landscape.

Versions

  1. 2026-08-02 06:11 UTC Egypt pound steady, gold steadies, savings high
  2. 2026-08-01 20:12 UTC Egypt pound steady, gold jumps, savings surge
  3. 2026-08-01 18:21 UTC Egypt pound steady, gold jumps, savings surge
  4. 2026-08-01 14:02 UTC Egypt pound steady, gold jumps, savings surge
  5. 2026-07-31 21:32 UTC Egypt pound steady, gold jumps, savings surge
  6. 2026-07-29 03:45 UTC Egypt pound steady, gold stabilizes, savings surge
  7. 2026-07-26 05:52 UTC Egypt pound steady, gold stabilizes, savings surge

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