CBE reported closing foreign exchange rates of EGP 49.94 /$1 for buying and EGP 50.04/$1 for selling. 

On March 6, 2024, the CBE last devalued the pound, increasing the dollar exchange rate from EGP 30.9 to EGP 49.56.

Prime Minister Mostafa Madbouly stated on Saturday that since Egypt adopted a flexible exchange rate in March, the value of the dollar has fluctuated by 4 to 5 percent, ranging from EGP 47 to EGP 49 /$1, with similar fluctuations expected in the coming months based on the demand for the dollar.

On Thursday, the Commercial International Bank (CIB) reported the highest exchange rates in the banking system, with the dollar buying at EGP 49.96 and selling at EGP 50.06.

Arab African International Bank (AAIB) reported rates of EGP 50.04/ $1 for buying and EGP 49.94/ $1 for selling.

Meanwhile, the National Bank of Egypt (NBE) and Banque Misr reported rates of EGP 49.93/$1for buying and EGP 50.03/$1for selling.

Euro

The euro (€) also saw an increase, rising by 0.68 percent to EGP 52.70/ € 1 for selling compared to EGP 52.34/ € 1 the previous day, according to CBE.

For buying, the euro reached EGP 52.58/ € 1 compared to EGP 52.22/ € 1, CBE announced.

CIB reported the highest exchange rates for the euro, with EGP 52.91/ € 1 for selling and EGP 52.50/€ 1 for buying.

AAIB reported rates of EGP 52.88/ € 1 for buying and EGP 52.48 / € 1for selling, while NBE reported EGP 52.90/ € 1 for selling and EGP 52.47/ € 1 for buying.

Banque Misr reported EGP 52.47/ € 1 for buying and EGP 52.87/ € 1 for selling.

Saudi riyal

On Thursday, the Saudi riyal also hit its highest level against the Egyptian pound since 10 March, following the devaluation of the pound.

The CBE's website showed a rate of EGP 13.29/1 SAR  for buying and EGP 13.32/1 SAR  for selling, compared to EGP 13.09 /1 SAR for buying and EGP 13.12/1 SAR  for selling on March 10.

AAIB reported EGP 13.36/1 SAR  for buying and EGP 13.18 /1 SAR for selling, while CIB reported EGP 13.32/1 SAR  for selling and EGP 13.29/1 SAR for buying.

UAE dirham

The UAE dirham also appreciated, rising by 0.38 percent to record EGP 13.62 /1 AED for selling and EGP 13.57 /1 AED for buying, compared to EGP 13.59 /1 AED for selling and EGP 13.54/1 AED  for buying the previous day, according to CBE.

NBE and Banque Misr reported the highest exchange rates for the dirham, with EGP 13.62 /1 AED  for selling and EGP 13.58 /1 AED for buying.

AAIB reported EGP 13.62 /1 AED for buying and EGP 13.52 /1 AED  for selling.