The pound traded at EGP 48.85 for buying and selling at five banks, including Crédit Agricole Egypt, Al Baraka Bank Egypt, and QNB Egypt.
The highest rates ranged between EGP 48.90 and EGP 49.14 for buying and between EGP 49 and EGP 49.23 for selling at seven banks, including HSBC Bank, Egyptian Arab Land Bank, and National Bank of Kuwait (NBK).
Sunday’s rates were close to levels last seen in early March, shortly after the conflict began on 28 February, when the currency traded at EGP 48.82 on 1 March.
According to the Central Bank of Egypt (CBE), the pound traded at EGP 48.86 for buying and EGP 49 for selling on Sunday, improving by almost EGP 0.20, or 0.4 percent, from Wednesday’s close of business (COB) rates of EGP 49.05 and EGP 49.19, respectively.
It also strengthened by around EGP 0.43, or 0.9 percent, from last Sunday’s rates of EGP 49.30 and EGP 49.44.
The Egyptian pound has strengthened by almost EGP 5.8, or 11.8 percent, from its weakest level since the start of the US-Israeli war on Iran, when it reached EGP 54.78 on 7 April amid capital outflows and regional tensions that continued to pressure foreign-currency liquidity.
However, the pound remains about EGP 1, or 2.1 percent, weaker than its pre-conflict level of EGP 47.99 against the US dollar.
The recent improvement coincides with Egypt’s anticipation of approximately $1.64 billion in financing from the International Monetary Fund (IMF), pending approval by the IMF Executive Board, after reaching a staff-level agreement on the seventh review of Egypt’s Extended Fund Facility (EFF) programme and the second review under the Resilience and Sustainability Facility (RSF).
The country is also preparing to receive a tranche of 1.5 billion euros from the European Union in the coming days.
Meanwhile, markets await the CBE Monetary Policy Committee’s decision at its fourth meeting of the year on 9 July, which will indicate the direction of interest rates.
Other currency changes
The euro traded at EGP 55.88 for buying and EGP 56.05 for selling on Sunday, slightly down from EGP 55.91 and EGP 56.07 on Wednesday.
The currency remained EGP 0.58, or 1 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 65.24 for buying and EGP 65.44 for selling, up from EGP 65 and EGP 65.19 on Wednesday.
The currency remains around EGP 0.47 above its pre-conflict level.
Gulf currencies also continued to weaken against the Egyptian pound.
The Kuwaiti dinar traded at EGP 159.35 on Sunday, down from EGP 159.79 on Wednesday, while the Bahraini dinar slipped to EGP 130.01 from EGP 130.49.
The Omani riyal eased to EGP 127.62 from EGP 127.78 on Wednesday, while the Jordanian dinar declined to EGP 69.22 from EGP 69.48.
According to CBE data, Gulf currencies have depreciated against the Egyptian pound by between EGP 0.25 and EGP 2.22 since the outbreak of the US-Israeli war on Iran.
Gold price gains
The gold sovereign (geneih dahab) traded at EGP 47,320 on Sunday, rising by EGP 1,120 from Wednesday’s EGP 46,200, according to gold trading platform iSagha.
The metal remains among the best-performing asset classes over the past 12 months, according to the World Gold Council’s Gold Mid-Year Outlook 2026.
Meanwhile, the Precious Metals and Jewellery Industry Division at the Federation of Egyptian Industries (FEI) plans to launch a new initiative to revive gold jewellery sales in the local market, according to business news outlet Al-Mal.
The initiative aims to restore balance to the Egyptian gold market and support local industry while preserving production capacity at factories and workshops.
It falls under a strategy to develop Egypt’s gold industry through 2029 by increasing exports, opening new markets, and expanding jewellery manufacturing.
The move comes as consumer behaviour has changed over the past three years, with demand for gold jewellery declining due to high prices as buyers shifted towards gold bars and coins, which are cheaper to purchase and easier to resell.
The initiative will offer seasonal promotions on designs at different price points, targeting young people and soon-to-be married couples.
Meanwhile, 24-karat gold rose to EGP 6,760, increasing by EGP 160 from EGP 6,600 on Wednesday.
Gold prices saw sharp swings during the first half of the year and are likely to fluctuate during the second half of 2026 as geopolitical tensions, monetary policy expectations, and investor sentiment continue to shape markets.
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