Business · Markets · 8 hrs ago
Dollar rises above 55 Egyptian pounds at several banks
On Thursday, the US dollar rose above 55 Egyptian pounds at several banks, reaching new highs in Egypt's banking market.
The exchange rate had started the day below that level, and prices varied from bank to bank.
The pound has faced pressure amid regional tensions, changes in foreign investment and demand for dollars to pay for imports.
Analysts say investors moving money out of government debt can increase demand for dollars, especially if foreign currency supplies do not rise to match it.
A weaker pound can make imported goods more expensive, adding to pressure on local prices.
The dollar's path will depend on economic and geopolitical developments, and analysts say it could ease if conditions stabilize.
The US dollar rose above 55 Egyptian pounds at several banks during trading on Thursday, October 22.
The highest selling rate reported in the article was 55.37 pounds at Abu Dhabi Islamic Bank, although its detailed bank figures listed a selling rate of 55.25 pounds.
The National Bank of Egypt and Cairo Bank each quoted 55.12 pounds to buy and 55.22 pounds to sell.
Analysts cited foreign investment outflows and a stronger US dollar globally as factors that may add pressure on the Egyptian pound.
- Who
- The US dollar and the Egyptian pound. Several Egyptian banks reported dollar rates above 55 pounds.
- What
- The dollar rose above 55 pounds for selling at several banks.
- When
- Thursday, October 22, 2026.
- Where
- Banks in Egypt.
- Why
- Analysts cited possible foreign investment outflows and the dollar’s global rise. Regional tensions and demand for foreign currency were also identified as pressures.
This story does not have two clearly opposing sides.
The dollar was quoted at 54.65 pounds to buy and 54.75 pounds to sell at the Central Bank of Egypt.
The dollar approached 55 pounds before falling by the close of trading on Wednesday.
The Central Bank of Egypt quoted the dollar at 54.32 pounds to buy and 54.46 pounds to sell at the close.
The dollar passed 55 pounds for selling at several banks during trading.
- Top reported selling rate
- 55.37 pounds at Abu Dhabi Islamic Bank
- Abu Dhabi Islamic Bank detailed rate
- 55.15 pounds to buy; 55.25 pounds to sell
- National Bank of Egypt
- 55.12 pounds to buy; 55.22 pounds to sell
- Banque Misr
- 54.92 pounds to buy; 55.02 pounds to sell
- Prior benchmark
- 54.65 pounds to buy; 54.75 pounds to sell at the Central Bank of Egypt on April 7, 2026
3 sources
What people are saying
the exchange rate remains linked to geopolitical and economic developments and the movement of foreign investments
exceeding the 55-pound level and remaining above it may raise greater concerns among market participants