File Photo: An employee counts U.S. dollars in a foreign exchange office in central Cairo, Egypt. AFP
The pound strengthened to EGP 51.67 for buying and EGP 51.81 for selling, compared to Thursday’s EGP 51.75 and EGP 51.88, respectively, marking a 0.14 percent appreciation. It also improved from Wednesday’s EGP 51.93 for buying and EGP 52.07 for selling.
The rebound signals a degree of stabilization after weeks of volatility triggered by regional tensions, which unsettled investors, disrupted capital flows, and drove more than $10 billion in short-term foreign investments out of Egypt’s secondary market, while increasing demand for foreign currency.
Across banks, exchange rates continued to ease. The highest rate was recorded at Banque du Caire, where the dollar traded at EGP 51.97 for buying and EGP 52.07 for selling. At Commercial International Bank (CIB), Banque Misr, and the National Bank of Egypt, the dollar stood at EGP 51.69 for buying and EGP 51.79 for selling.
Earlier this month, the pound had weakened to around EGP 54.5 per dollar, reflecting a loss of approximately 13.5 percent from its pre-conflict level of EGP 47.9. As of Sunday, that decline has narrowed to about 8.7 percent, supported by the ceasefire announcement, though concerns over renewed escalation and capital outflows persist.
Other currencies
The euro declined to EGP 60.77 for buying and EGP 60.95 for selling on Sunday, down from Thursday’s levels, though it remains roughly EGP 4.3 higher than before the conflict.
The British pound traded at EGP 69.83 for buying and EGP 70.04 for selling, easing from Thursday’s rates but still up by around EGP 5.07 compared to pre-conflict levels.
Gulf currencies remained broadly stable. The Saudi riyal traded between EGP 13.77 and EGP 13.81, the UAE dirham between EGP 14.06 and EGP 14.10, and the Qatari riyal between EGP 14.17 and EGP 14.21.
The Kuwaiti dinar edged down to between EGP 168.65 and EGP 169.16, while the Bahraini dinar stood at EGP 137.03 to EGP 137.43. The Omani riyal traded between EGP 134.20 and EGP 134.59, and the Jordanian dinar between EGP 72.78 and EGP 73.18.
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