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Dollar exceeds 53 pounds for first time since May
The dollar price in Egypt has risen to exceed 53 pounds for the first time since May 2026, recording an increase of between 22 and 28 piastres in both government and private banks. This comes alongside a record high in foreign exchange reserves, which reached $57.35 billion in September—a $134 million increase from August. Additionally, remittances from Egyptians abroad increased by 27.2%, reaching $33.9 billion over eight months, reflecting an improvement in the Egyptian economy and stability in foreign currency reserves.
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