Egyptian Pound Slides Against US Dollar on September 29, 2025
Cairo, Egypt – september 29, 2025 -โฃ The Egyptian pound continued its descent against the US dollar today, reaching new levels as of market close. Multiple banks across Egypt reported exchange rates hovering around 48 Egyptian pounds to the dollar, impacting importers, โคconsumers, adn the nation’s broaderโข economic outlook. The fluctuations come amid โongoing economic reforms and a persistent demand for US currency.
theโข official โexchange rate reflects increasing pressure โคon the Egyptian pound, driven by factors including import โขcosts and foreign debt obligations. These shifts directly affect the price of goods, potentially fuelingโ inflation and impacting โขpurchasing power for Egyptian citizens. Further volatility โคis anticipated as the government navigates economic challenges and seeks to stabilize the currency.
Here’s a snapshot โof dollar exchange rates at major Egyptian banks as โof September 29,2025:
* National Bank of Egypt: 48 pounds for purchase,48.11 poundsโ for sale.
* Banque Misr: โ 48 pounds for โขpurchase, โข48.11 โฃpounds for sale.
* Bank โofโ Alexandria: 48 pounds for purchase, 48.11โ poundsโ for sale.
*โ โ Commercial โฃInternational Bank (CIB): 47.98 pounds for purchase,48.11 pounds for sale.
* Cairo Bank: 48 pounds for purchase, โ48.11 pounds for sale.
The Central Bank of Egypt previously recorded the dollar at 47.97 โขpounds for โpurchase and 48.11 pounds for sale. These rates represent theโ closing values for transactions completed today.