The price of the dollar in Egypt recorded a big jump

Listen to the article. The audio text is automated, generated by an automated system

The price of the dollar in Egypt recorded a new high during trading today, Thursday, with the US currency exceeding the level of 52 pounds despite the return of hot money flows in Egyptian debt instruments.

According to statistics prepared by Al Arabiya Business, the highest exchange rate for the US dollar at Abu Dhabi Islamic Bank and the National Bank of Kuwait was 52.40 pounds for purchase, compared to 52.50 pounds for sale.

While the lowest exchange rate for the US dollar at Abu Dhabi Commercial Bank was 51.85 pounds to buy compared to 51.95 pounds to sell.

In the Bank of Egypt, the price of the dollar reached 52.26 pounds to buy, compared to 52.36 pounds to sell, while in the National Bank of Egypt and the Suez Canal Bank, the price of the dollar reached 52.25 pounds to buy, compared to 52.35 pounds to sell.

In the banks of First Abu Dhabi, Credit Agricole, Al Baraka, Commercial International, Reconstruction, Housing and Industrial Development, United Bank, Arab African Bank and Next, the price of the dollar reached 52.20 pounds for purchase, compared to 52.30 pounds for sale.

At the Central Bank of Egypt, the exchange rate of the US dollar recorded 51.92 pounds for purchase, compared to 52.06 pounds for sale.

Arab and foreign transactions in the secondary market for Egyptian government debt recorded a net purchase of $702 million during last September, according to Egyptian Stock Exchange data.

According to the data, Arabs recorded net purchases of $1.528 billion during last September, while foreigners recorded net sales of $826.5 million.

The Central Bank of Egypt said that net foreign reserves last August rose “initially” to about $57.22 billion, compared to about $56.3 billion in July.

By the end of August 2026, Egypt’s foreign exchange reserves reached a new record level, becoming the highest in the country’s history.

The steady growth in Egypt's net international reserves is supported by the improvement in the country's sources of foreign currency revenues, as exports have witnessed an escalating increase since the beginning of 2025, and an increase in income flows from tourism and remittances from Egyptians working abroad.

Remittances from Egyptians working abroad during the first seven months of 2026, extending from January to July, increased by 28.1% to record about $29.7 billion, compared to about $23.2 billion during the same period of the previous year, according to data from the Central Bank of Egypt.

Remittances from Egyptians working abroad continued their upward trajectory during July 2026, increasing by 20% to reach about $4.5 billion, compared to about $3.8 billion during July 2025.

Remittances from Egyptians working abroad also increased to reach $47.3 billion in the last fiscal year 2025-2026, compared to $36.5 billion in fiscal 2024-2025, a growth of 29.6%.

Remittances from Egyptians abroad during the year 2025 recorded record flows, the highest ever, as they increased by 40.5% to reach about $41.5 billion, compared to about $29.6 billion during 2024.