Egypt dollar rate drops on August 23

The US dollar exchange rate against the Egyptian pound experienced a moderate increase today, Sunday, August 23, 2026, at the start of trading. The buying rate was approximately 50.82 pounds, while the selling rate reached 50.92 pounds, according to data from the Central Bank. The Monetary Policy Committee of the Central Bank of Egypt announced the hold of interest rates at 19.00% for deposits, 20.00% for lending, and 19.50% for the financing and discount operations, based on the latest inflation developments and economic forecasts. Remittances from Egyptians working abroad during the fiscal year 2025-2026 reached a record high of $47.3 billion, an increase of 29.6% compared to the previous year. In June 2026 alone, remittances continued to rise by 15.6%, reaching $4.2 billion. On the banking front, the dollar's price decreased in the largest Egyptian banks, with exchange rates in Bank Misr and the National Bank of Egypt approximately 50.83 pounds for buying and 50.93 pounds for selling. In Alexandria Bank, the rates were around 50.73 pounds for buying and 50.83 pounds for selling. Meanwhile, the prices of Arab currencies remain relatively stable against the pound, such as the Saudi Riyal at 13.50 pounds for buying and 13.56 pounds for selling, and the UAE Dirham at 13.82 pounds for buying and 13.86 pounds for selling.

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