The price of the dollar in Egypt records a new record jump

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The price of the dollar in Egypt against the pound recorded a new high during trading today, Tuesday, as the US currency continued to trade at the highest level of 54 pounds, which it recorded in yesterday’s trading for the first time since last April, in light of the rise in the price of the dollar globally and 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 in Faisal Islamic Banks, Kuwait Finance House, Credit Agricole, SAIB, Abu Dhabi Islamic Bank, and HSBC was at 54.40 pounds for purchase, compared to 54.50 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 the National Bank of Egypt, the price of the dollar reached 54.37 pounds to buy, compared to 54.47 pounds to sell, and in Al Baraka Bank and the Suez Canal Bank, the price of the dollar reached 54.30 pounds to buy, compared to 54.40 pounds to sell, while in the Bank of Egypt, the price of the dollar reached 54.10 pounds to buy, compared to 54.20 pounds to sell.

At the Central Bank of Egypt, the exchange rate of the US dollar recorded 53.88 pounds for purchase, compared to 54.02 pounds for sale.

Arab and foreign transactions in the secondary market for Egyptian government debt recorded a net sale of $505 million during yesterday’s trading, Monday, with foreigners accounting for 99.9% of sales, according to Egyptian Stock Exchange data.

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.