Euro rate rises at 5 Egyptian banks
The euro price in Egyptian banks experienced a sudden increase during Thursday, July 30, 2026's trading sessions, with increases ranging from 83 piastres to a full Egyptian pound across five major banks. This development impacts both travelers' and importers' decisions. The euro price at the Central Bank reached 57.66 pounds for buying and 57.82 pounds for selling, while commercial banks showed clear increases, with purchase prices ranging between 58.37 and 58.49 pounds, and selling prices between 58.71 and 58.79 pounds. The rise is attributed to the U.S. Federal Reserve's decision to hold interest rates steady within the 3.5% - 3.75% range, coupled with a 0.3% increase in the euro’s value globally following the announcement. Additionally, increased domestic demand due to the travel and study season has contributed to the upward trend. This situation suggests that importers might find it advantageous to lock in exchange rates through forward contracts, while travelers are encouraged to purchase euros ahead of further expected increases during the upcoming week.
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