Thursday’s rate on the CBE’s website is EGP 48.85/USD1 for buying and EGP 48.95/USD 1 for selling, compared to EGP 49.20/USD 1 for buying and EGP 49.30/USD 1 for selling on 5 August 2024.

On 5 August, global markets around the world suffered instabilities due to increasing geopolitical tensions between Iran and Israel, with multiple news outlets reporting possible attacks between both sides.

Egyptian banks posted their Thursday EGP/USD exchange rates on their official websites.

The National Bank of Egypt's (NBE) rate is EGP 48.85/$1 for buying and EGP 48.95/$1 for selling.

The rate for Banque Misr is EGP 48.85/$1 for buying and EGP 48.95/$1 for selling.

The Commercial International Bank's (CIB) rate is EGP 48.85/$1 for buying and EGP 48.95/$1 for selling.

For Banque Du Caire, the rate is EGP 48.85/$1 for buying and EGP 48.95/$1 for selling.

Egypt is currently engaging in an $8 billion loan deal with the International Monetary Fund (IMF), under which it is committed to adopting a flexible regime for exchange and interest rates as key measures to put the country’s economy on a corrective path.