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Dollar surpasses 53 pounds in Egypt
The dollar exchange rate against the Egyptian pound has risen in Egyptian banks, surpassing 53 pounds in some institutions despite increased foreign currency inflows. The highest exchange rate recorded was 53.08 pounds at HSBC Bank, while the lowest was 52.70 pounds at First Abu Dhabi Bank. The rise in the dollar's price comes alongside a record-high foreign exchange reserve of $57.35 billion in September, supported by increased remittances from Egyptians working abroad, which reached $47.3 billion in the 2025-2026 fiscal year—an all-time high. Additionally, Egypt's revenue from exports, tourism, and the Suez Canal has improved, reflecting strong foreign currency inflows amid growing demand for the dollar.
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