The price of the dollar in Egypt is back on the rise...a new record gain

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The price of the dollar rose in Egypt against the pound during trading on Thursday, with the US currency returning to record record gains after a temporary decline in trading yesterday, Wednesday.

The dollar continued to reach the highest level of 54 pounds in Egyptian bank transactions, which is the level it recorded during the current week for the first time since last April, in light of the exit of hot money from Egyptian debt instruments.

According to statistics prepared by Al Arabiya Business, the highest exchange rate for the US dollar at SAIB Bank was 54.53 pounds for purchase, compared to 54.63 pounds for sale.

While the lowest exchange rate for the US dollar at Qatar National Bank was 53.05 pounds for purchase, compared to 53.15 pounds for sale.

In First Abu Dhabi, Alexandria, Faisal Islamic, Kuwait Finance House, HSBC, Next, and Abu Dhabi Islamic banks, the price of the dollar reached 54.52 pounds for purchase, compared to 54.62 pounds for sale.

As for the National Bank of Egypt, the Arab African Bank, and Al-Baraka Bank, the price of the dollar reached 54.50 pounds for purchase, compared to 54.60 pounds for sale.

At the Central Bank of Egypt, the exchange rate of the US dollar recorded 54.33 pounds for purchase, compared to 54.47 pounds for sale.

Arab and foreign transactions in the secondary market for Egyptian government debt recorded a net sale of $376.4 million during yesterday’s trading, Wednesday, according to Egyptian Stock Exchange data.

The total hot money exits from Egypt rose to $1.13 billion within 3 days, as Arab and foreign transactions recorded a net sale of $245 million during Tuesday’s transactions, and a net sale of $505 million last Monday.

Hot money returned to exit Egypt after positive flows during the past two weeks, as Arab and foreign transactions in the secondary market for government debt recorded a net purchase of $328.5 million during the past week, and a net purchase of $1.2 billion during the week before last.

During last September, transactions by Arabs and foreigners recorded net purchases of $702 million, as Arabs recorded net purchases of $1.528 billion, while foreigners recorded net sales of $826.5 million.

Egypt's foreign exchange reserves continued to rise to reach a new record level of $57.35 billion last September, an increase of $134 million over August, according to the Central Bank of Egypt.

Last August, net foreign reserves rose to about $57.22 billion, compared to about $56.3 billion in July.

Egypt's sources of foreign exchange revenues witnessed a noticeable improvement with the rise in exports, the growth of tourism income, remittances from Egyptians abroad, and the increase in Suez Canal revenues.

Remittances from Egyptians working abroad increased by 27.2% during the first 8 months of 2026, recording record inflows of about $33.9 billion, compared to about $26.6 billion during the same period of the previous year.

The Central Bank of Egypt said that remittances grew by 21.7% during August 2026 to reach about $4.2 billion, compared to about $3.5 billion during August 2025.

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

Remittances from Egyptians abroad during the year 2025 recorded record flows, the highest ever, as they increased by 40.5% to reach about $41.5 billion, compared to about $29.6 billion during 2024.