The price of the dollar in Egypt jumps again... and the pound continues to decline

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The price of the dollar in Egypt recorded a new high during trading today, Sunday, as the American currency continued its gains, reaching a high of 52 pounds in all Egyptian banks.

According to statistics prepared by Al Arabiya Business, the highest exchange rate for the US dollar at the National Bank of Kuwait was 52.60 pounds for purchase, compared to 52.70 pounds for sale.

While the lowest exchange rate for the US dollar at Abu Dhabi Islamic Bank was 52.38 pounds for purchase, compared to 52.48 pounds for sale.

In the banks of the National Bank of Egypt, Egypt, Alexandria, First Abu Dhabi, International Commercial, Construction, Housing, Suez Canal, Kuwait Finance House, Arab Bank, Egyptian Gulf, Faisal Islamic, Industrial Development, National Bank of Kuwait, United Bank, HSBC, and Arab African Bank, the price of the dollar reached 52.53 pounds for purchase, compared to 52.63 pounds for sale.

At the Central Bank of Egypt, the exchange rate of the US dollar recorded 52.53 pounds for purchase, compared to 52.66 pounds for sale.

Arab and foreign transactions in the secondary market for Egyptian government debt recorded a net purchase of $1.2 billion during last week’s transactions, according to Egyptian Stock Exchange data.

According to the data, foreigners recorded net sales worth $300.8 million, while Arabs recorded net purchases worth $1.5 billion.

Hot money flows returned to Egyptian debt instruments, after Arab and foreign transactions recorded net sales worth $361 million during the trading week before last.

But during last September, Arab and foreign transactions in the secondary market for Egyptian government debt recorded a net purchase of $702 million.

According to the data, Arabs recorded net purchases of $1.528 billion during last September, while foreigners recorded net sales of $826.5 million.

Egypt's foreign exchange reserves continued to rise to reach a new record level of $57.35 billion last September, an increase of $134 million over August, according to the Central Bank of Egypt.

Last August, net foreign reserves rose to about $57.22 billion, compared to about $56.3 billion in July.

Egypt's sources of foreign exchange revenues witnessed a noticeable improvement with the rise in exports, the growth of tourism income, remittances from Egyptians abroad, and the increase in Suez Canal revenues.

Remittances from Egyptians working abroad during the first seven months of 2026, extending from January to July, increased by 28.1% to record about $29.7 billion, compared to about $23.2 billion during the same period of the previous year, according to data from the Central Bank of Egypt.

Remittances from Egyptians working abroad continued their upward trajectory during July 2026, increasing by 20% to reach about $4.5 billion, compared to about $3.8 billion during July 2025.

Remittances from Egyptians working abroad also increased to reach $47.3 billion in the last fiscal year 2025-2026, compared to $36.5 billion in fiscal 2024-2025, a growth of 29.6%.

Remittances from Egyptians abroad during the year 2025 recorded record flows, the highest ever, as they increased by 40.5% to reach about $41.5 billion, compared to about $29.6 billion during 2024.