File Photo: A man counting dollars. (Al-Ahram)
The currency traded at EGP 49.30 for buying and EGP 49.44 for selling on Sunday, strengthening by nearly EGP 0.16, or 0.32 percent, from Thursday's COB rates of EGP 49.46 and EGP 49.60, respectively.
Compared with last Sunday's rates of EGP 49.80 for buying and EGP 49.94 for selling, the pound strengthened by nearly EGP 0.50, or 1 percent.
The recent gains follow the launch of higher-yield certificates of deposit and new savings products by state-owned lenders, including Banque Misr and the National Bank of Egypt, aimed at expanding Egyptian pound-denominated investment options.
Markets are also awaiting the Central Bank of Egypt's Monetary Policy Committee's fourth meeting of the year on 9 July for further signals on the direction of interest rates.
The currency's stability also coincides with easing inflation. Annual headline inflation slowed to 13 percent in May 2026 from 13.4 percent in April and 16.5 percent a year earlier, reinforcing confidence in the pound and supporting its recent appreciation.
Despite its recent recovery, the pound remains about EGP 1.45, or 3 percent, weaker than its pre-conflict level of EGP 47.99 against the US dollar. However, this marks an improvement from the 3.3 percent gap recorded at Thursday's COB and the 3.9 percent decline at the start of last week.
Across local banks, the highest exchange rates ranged between EGP 49.32 and EGP 49.59 for buying and EGP 49.42 and EGP 49.69 for selling at eight lenders, including HSBC, Banque Misr, and the National Bank of Egypt.
Meanwhile, the lowest rates ranged between EGP 49.25 and EGP 49.30 for buying and EGP 49.35 and EGP 49.40 for selling at CIB, the National Bank of Kuwait (NBK), Al Baraka Bank Egypt, and Crédit Agricole Egypt.
Other currencies see marginal changes
The euro traded at EGP 56.12 for buying and EGP 56.29 for selling on Sunday. Compared with last Sunday's rates of EGP 57.11 and EGP 57.28, respectively, the single currency remained EGP 0.34, or 0.61 percent, below its pre-conflict closing rate of EGP 56.63 recorded on 26 February, two days before the outbreak of the US-Israeli war on Iran.
The British pound traded at EGP 65.09 for buying and EGP 65.28 for selling on Sunday, down from EGP 65.12 and EGP 65.32 at Thursday's COB and from EGP 65.90 and EGP 66.10 last Sunday. It nevertheless remains around EGP 0.31 above its pre-conflict level.
Gulf currencies also continued to weaken against the Egyptian pound. The Kuwaiti dinar traded at EGP 160.61 on Sunday, down from EGP 161.12 on Thursday and EGP 162.41 last Sunday, while the Bahraini dinar slipped to EGP 131.19 from EGP 131.58 and EGP 132.48 over the same period.
The Omani riyal eased to EGP 128.76 from EGP 128.85 at Thursday's COB and EGP 130.06 last Sunday, while the Jordanian dinar declined to EGP 69.83 from EGP 70.06 and EGP 70.54, respectively.
According to CBE data, Gulf currencies have depreciated against the Egyptian pound by between EGP 0.37 and EGP 3.5 since the outbreak of the US-Israeli war on Iran.
Gold prices edge higher
The gold sovereign (geneih dahab) traded at EGP 46,400 on Sunday, rising EGP 720 from Thursday's closing rate of EGP 45,680, although it remained EGP 1,680 below last Sunday's EGP 48,080, according to gold trading platform iSagha.
Meanwhile, 24-karat gold rose to EGP 6,628.5 from EGP 6,525.75 on Thursday but remained EGP 240 below last Sunday's rate of EGP 6,868.5.
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