The price of the dollar in Egypt exceeds 53 pounds... a new record jump

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The price of the dollar rose in Egypt against the pound during trading today, Wednesday, with the US currency jumping to the highest level of 53 pounds in a number of Egyptian banks, despite the increase in foreign exchange flows in Egypt.

According to statistics prepared by Al Arabiya Business, the highest exchange rate for the US dollar at HSBC Bank was 52.98 pounds for purchase, compared to 53.08 pounds for sale.

While the lowest exchange rate for the US dollar at First Abu Dhabi Bank was 52.70 pounds for purchase, compared to 52.80 pounds for sale.

In Commercial International, Industrial Development, Kuwait Finance House, and SAIB banks, the price of the dollar reached 52.97 pounds to buy, compared to 53.07 pounds to sell, while in the National Bank of Egypt and Arab Bank, the price of the dollar reached 52.96 pounds to buy, compared to 53.06 pounds to sell, and in the Bank of Egypt, the price of the dollar reached 52.93 pounds to buy, compared to 53.03 pounds to sell.

At the Central Bank of Egypt, the exchange rate of the US dollar recorded 52.77 pounds for purchase, compared to 52.90 pounds for sale.

Arab and foreign transactions in the secondary market for Egyptian government debt recorded a net purchase of $1.2 billion during last week’s transactions, according to Egyptian Stock Exchange data.

According to the data, foreigners recorded net sales worth $300.8 million, while Arabs recorded net purchases worth $1.5 billion.

Hot money flows returned to Egyptian debt instruments, after Arab and foreign transactions recorded net sales worth $361 million during the trading week before last.

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

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

Egypt's foreign exchange reserves continued to rise to reach a new record level of $57.35 billion last September, an increase of $134 million over August, according to the Central Bank of Egypt.

Last August, net foreign reserves rose to about $57.22 billion, compared to about $56.3 billion in July.

Egypt's sources of foreign exchange revenues witnessed a noticeable improvement with the rise in exports, the growth of tourism income, remittances from Egyptians abroad, and the increase in Suez Canal revenues.

Remittances from Egyptians working abroad increased by 27.2% during the first 8 months of 2026, recording record inflows of about $33.9 billion, compared to about $26.6 billion during the same period of the previous year.

The Central Bank of Egypt said that remittances grew by 21.7% during August 2026 to reach about $4.2 billion, compared to about $3.5 billion during August 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.