Egyptian pound and dollar notes.
The currency traded at EGP 49.05 for buying and EGP 49.19 for selling on Wednesday, strengthening by EGP 0.25 or 0.5 percent from earlier this week’s EGP 49.30 and EGP 49.44 on Sunday. It was also strengthened by EGP 0.1 or 0.2 percent from Tuesday’s EGP 49.16 for buying and EGP 49.29 for selling.
The pound trades below rates last seen during the first few days after the onset of the US-Israel war on Iran on 28 February, when the currency traded at EGP 49.3 per dollar on 2 March. It’s also approaching the rate of EGP 48.82 seen the day before, on 1 March.
Despite its recent recovery, the pound remains about EGP 1.2 or 2.5 percent weaker in value than its pre-conflict level of EGP 47.99 against the US dollar. Marking a slight improvement from this Sunday’s 3 percent gap.
Across local banks, the highest exchange rates ranged between EGP 49.06 and EGP 49.14 for buying and between EGP 49.16 and EGP 49.24 for selling at seven lenders, including HSBC, Egyptian Arab Land Bank, and Suez Canal Bank.
Meanwhile, the lowest rates ranged between EGP 49 and EGP 49.05 for buying and between EGP 49.1 and EGP 49.15 for selling at five banks, including Al Baraka Bank Egypt, the National Bank of Kuwait (NBK), and Crédit Agricole Egypt.
Other currencies see marginal changes
The euro traded at EGP 55.91 for buying and EGP 56.07 for selling on Wednesday, down from EGP 56.12 and EGP 56.29 on Sunday. The currency remained EGP 0.56, or almost 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 for buying and EGP 65.19 for selling, down from EGP 65.09 and EGP 65.28 on Sunday. It nevertheless remains around EGP 0.21 above its pre-conflict level.
Gulf currencies also continued to weaken against the Egyptian pound. The Kuwaiti dinar traded at EGP 159.79 on Wednesday, down from EGP 160.13 on Tuesday and EGP 160.61 on Sunday, while the Bahraini dinar slipped to EGP 130.49, from EGP 130.76 on Tuesday and EGP 131.19 on Sunday.
The Omani riyal eased to EGP 127.78 on Wednesday, from EGP 128.05 on Tuesday and EGP 128.76 on Sunday, while the Jordanian dinar declined to EGP 69.48 from EGP 69.62 on Tuesday and EGP 69.83 on Sunday.
According to CBE data, Gulf currencies have depreciated against the Egyptian pound by between EGP 0.3 and EGP 2.7 since the outbreak of the US-Israeli war on Iran.
Gold prices edge higher
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.
The gold sovereign (geneih dahab) traded at EGP 46,200 on Wednesday, rising by EGP 520 from Tuesday’s EGP 45,680 and by EGP 200 from earlier this week’s EGP 46,400 on Sunday, according to gold trading platform iSagha.
Gold has experienced sharp price swings during the first six months of the year and is likely to fluctuate during the second half of 2026 as geopolitical tensions, monetary policy expectations, and investor sentiment continue to shape markets.
Meanwhile, 24-karat gold rose to EGP 6,600 on Wednesday, increasing by EGP 74.25 from Tuesday’s EGP 6,525.75 and by EGP 28.5 from Sunday’s EGP 6,628.5.
Short link: