The Price of the Dollar in Egypt Records a Significant Jump

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The price of the dollar in Egypt recorded a new increase during trading today, Thursday, exceeding the American currency level of 52 pounds despite the return of hot money flows into Egyptian debt instruments.

According to a survey conducted by 'Al Arabiya Business', the highest exchange rate for the US dollar was at Abu Dhabi Islamic Bank and the National Bank of Kuwait at 52.40 pounds for buying and 52.50 pounds for selling.

Meanwhile, the lowest exchange rate for the US dollar was at Abu Dhabi Commercial Bank at 51.85 pounds for buying and 51.95 pounds for selling.

At Banque Misr, the dollar price reached 52.26 pounds for buying and 52.36 pounds for selling, while at the National Bank of Egypt and Suez Canal Bank, the dollar price was 52.25 pounds for buying and 52.35 pounds for selling.

In the banks of Abu Dhabi First, Credit Agricole, Al Baraka, Commercial International, Housing and Development, Industrial Development, United Bank, African Arab, and "Next", the price of the dollar reached 52.20 pounds for buying compared to 52.30 pounds for selling.

At the Central Bank of Egypt, the exchange rate of the US dollar recorded 51.92 pounds for buying compared to 52.06 pounds for selling.

Transactions by Arabs and foreigners in the secondary market for Egyptian government debt recorded a net purchase of 702 million dollars during the month of September, according to data from the Egyptian Stock Exchange.

According to the data, Arabs recorded a net purchase of 1.528 billion dollars during September, while foreigners recorded a net sale of 826.5 million dollars.

The Central Bank of Egypt stated that net foreign reserves in August rose "provisionally" to about 57.22 billion dollars, compared to about 56.3 billion dollars in July.

Egypt's foreign currency reserves reached a new record level by the end of August 2026, becoming the highest in the country's history.

The steady growth in Egypt's net international reserves is supported by an improvement in the country's foreign currency revenue sources, as exports have seen a rising trend since the beginning of 2025, along with increased income flows from tourism and remittances from Egyptians working abroad.

Remittances from Egyptians working abroad increased by 28.1% during the first seven months of 2026, from January to July, reaching approximately $29.7 billion, compared to about $23.2 billion during the same period last year, according to data from the Central Bank of Egypt.

Remittances from Egyptians working abroad continued their upward trajectory in July 2026, rising by 20% to reach approximately $4.5 billion, compared to about $3.8 billion in July 2025.

Remittances from Egyptians working abroad also rose to $47.3 billion in the last financial year 2025-2026, compared to $36.5 billion in the financial year 2024-2025, marking a growth of 29.6%.

The remittances of Egyptians abroad in 2025 recorded unprecedented flows, the highest ever, with an increase of 40.5% to reach approximately 41.5 billion dollars, compared to about 29.6 billion dollars in 2024.