Egyptian dollar hits over 51 pounds
The price of the dollar increased against the Egyptian pound today, Wednesday, surpassing 51 pounds in the Egyptian market. This comes amid a slight decline in the value of the pound according to bank data. The rise is occurring alongside increased outflows of remittances sent by Egyptians abroad, which reached $47.3 billion for the 2025-2026 fiscal year, marking a 29.6% increase over the previous year, with monthly transfers continuing to rise. The current exchange rates are impacting local commodity prices, especially imported goods. It is noted that the dollar's price in banks ranges between 50.87 and 51.37 pounds, depending on the banking institution.
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