The pound traded at EGP 49.85 for buying and EGP 49.99 for selling, weakening by EGP 0.22, or 0.45 percent, from Thursday's closing rates of EGP 49.63 and EGP 49.77, respectively.
The currency weakened on Wednesday last week, trading at EGP 49.71 after closing at EGP 48.88 on Tuesday, ending a 24-day recovery streak during which it had steadily strengthened against the US dollar and approached its pre-US-Israeli war on Iran level.
The decline followed renewed hostilities in the region after the United States launched counterstrikes on Iran in response to attacks on several oil tankers in the Strait of Hormuz.
Despite heightened regional tensions, global economic uncertainty, and concerns over supply disruptions and energy markets, the CBE's Monetary Policy Committee left its key interest rates unchanged on Thursday, citing easing inflationary pressures and an improving inflation outlook.
Egypt's annual headline inflation eased to 12.2 percent in June 2026, down from 13 percent in May and 14.4 percent in June 2025.
The pound also weakened by nearly EGP 1, or about 2 percent, from last Sunday’s rates of EGP 48.86 for buying and EGP 49 for selling. Last week marked the first time the currency had returned to that level since the outbreak of the US-Israeli war on Iran on 28 February.
The pound has now depreciated by about EGP 2, or 4.2 percent, from its pre-conflict level of EGP 47.99 against the US dollar.
Meanwhile, the currency traded between EGP 49.87 and EGP 49.90 for buying and between EGP 49.97 and EGP 50 for selling at six banks, including Crédit Agricole, Suez Canal Bank, and Bank of Alexandria.
It also traded between EGP 49.65 and EGP 49.85 for buying and between EGP 49.74 and EGP 49.95 for selling at five banks, including Al Baraka Bank, QNB, and Banque Misr.
Other currencies strengthen against the pound
The euro continued to strengthen against the Egyptian pound, trading at EGP 56.90 for buying and EGP 57.06 for selling on Sunday, compared with EGP 56.68 and EGP 56.85 on Thursday. The euro is now trading about EGP 0.42 above its pre-conflict closing rate of EGP 56.63, recorded on 26 February, two days before the outbreak of the war.
The British pound followed a similar pattern, trading at EGP 66.83 for buying and EGP 67.04 for selling on Sunday, increasing from EGP 66.45 and EGP 66.66 on Thursday, respectively. The currency remains around EGP 2.06 above its pre-conflict level.
Gulf currencies also continued to strengthen against the Egyptian pound.
The Kuwaiti dinar traded at EGP 161.97 for buying and EGP 162.48 for selling on Sunday, compared with EGP 161.24 and EGP 161.74 on Thursday, while the Bahraini dinar rose to EGP 132.65 from EGP 132.02 on Thursday.
The Omani rial rose to EGP 129.9 from EGP 129.28 on Thursday, while the Jordanian dinar traded at EGP 70.61, up from EGP 70.29 on Thursday.
According to CBE data, Gulf currencies have appreciated by between EGP 0.51 and EGP 5.35 against the Egyptian pound since 28 February.
Gold prices rise
The gold sovereign traded at EGP 47,160 on Sunday, up by EGP 360 from EGP 46,800 on Thursday, according to gold trading platform iSagha.
Meanwhile, 24-karat gold rose to EGP 6,737.25 on Sunday, up EGP 52.25 from EGP 6,685 on Thursday.
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