US Dollar Rate Stable Against Egyptian Pound on October 24, 2026
The Egyptian pound reached a historic low against the United States dollar on October 22, 2026, with the exchange rate crossing the 55-pound threshold across multiple local banks before operations paused for the weekend, according to financial reporting by Al Arabiya Business. Import costs, regional geopolitical tensions, and shifting foreign investment flows continue to drive this pressure on domestic currency valuations.
Currency Rates Hold Steady During Bank Holiday
Foreign exchange markets remained frozen through Saturday, October 24, 2026, as banks observed their weekly holiday. Rates settled at the exact figures recorded during the final trading sessions of the week, youm7.com reported.
The Central Bank of Egypt posted a buying rate of 55.24 pounds and a selling rate of 55.38 pounds, according to official data cited by youm7.com. Major financial institutions including the National Bank of Egypt, Commercial International Bank (CIB), Bank of Alexandria, and Suez Canal Bank reported buy rates clustering between 55.23 and 55.25 pounds, with selling rates hovering around 55.35 to 55.38 pounds. Meanwhile, Abu Dhabi Islamic Bank recorded the highest buy rate across the primary market at 55.27 pounds and a sell rate of 55.37 pounds, while Bank Next logged a lower entry point at 54.60 pounds for buying and 54.70 pounds for selling, Al Arabiya Business noted.
Central Bank Egypt Lists Foreign and Arab Currency Rates
At the close of Thursday, October 22, 2026, the Central Bank of Egypt announced mixed levels for various foreign and Arab currencies against the Egyptian pound. The euro was registered at 61.9517 pounds for buying and 62.1142 pounds for selling, while the British pound reached 73.8945 pounds for buying and 74.0929 pounds for selling. Among regional currencies, the Saudi riyal stood at 14.7228 pounds for buying and 14.7617 pounds for selling.
Foreign Investors Pull 1.13 Billion Dollars from Debt Market
Foreign and Arab investors accelerated their exits from Egypt’s secondary government debt market, pulling substantial capital out of the domestic financial system over three trading days. Stock exchange figures published by Al Arabiya Business showed net sales on Wednesday, October 21, following a net sale of 245 million dollars on Tuesday and 505 million dollars on Monday.
This three-day capital flight totaled 1.13 billion dollars, reversing inflows recorded earlier in the month. During the preceding two weeks, secondary market debt purchases had registered net inflows, while September closed with a net purchase balance driven primarily by Arab investments offsetting foreign divestments.
Reserves, Remittances, and Central Bank Positioning
External revenue streams showed mixed momentum as international reserves expanded alongside strong remittance growth. Official figures from the Central Bank of Egypt show foreign exchange reserves reaching a record 57.35 billion dollars at the close of September, marking a 134-million-dollar increase over August levels. Remittances from Egyptian workers abroad rose 27.2 percent during the first eight months of 2026 to touch 33.9 billion dollars, up from 26.6 billion dollars during the corresponding period in the prior year, per Al Arabiya Business. Remittances grew by 21.7 percent during August 2026 to reach roughly 4.2 billion dollars, compared to 3.5 billion dollars in August 2025.
Addressing the currency valuation during the Egypt 2026 Forum in the New Administrative Capital, Central Bank Governor Hassan Abdalla defended the institution’s commitment to a flexible exchange rate mechanism. Abdalla noted that market adjustments remain natural responses to changing macroeconomic conditions and regional pressures, cautioning that a fixed exchange rate in the face of shifting external variables presents greater institutional risk.
