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The US dollar continued its downward trend against the Egyptian pound on Wednesday, July 16, 2025, with the exchange rate declining by approximately 7 piasters across major Egyptian banks.

Central Bank of Egypt Rates

According to the Central Bank of Egypt, the dollar was trading at EGP 49.34 for buying and EGP 49.47 for selling.

USD Rates at Major Banks

National Bank of Egypt (NBE): EGP 49.34 (buying) | EGP 49.44 (selling)

Banque Misr: EGP 49.36 (buying) | EGP 49.46 (selling)

Bank of Alexandria: EGP 49.35 (buying) | EGP 49.45 (selling)

The ongoing appreciation of the Egyptian pound is attributed to a series of positive economic indicators and increased foreign currency inflows.

Net Foreign Assets Surge

Egypt's banking sector recorded a notable improvement in its net foreign assets (NFAs), which rose by $1.2 billion in May 2025 to reach $14.7 billion, up from $13.6 billion in April. This growth was primarily driven by a surge in foreign assets held by commercial banks, which hit a four-year high of $4.8 billion—a sharp increase from $1.6 billion the previous month.

Egypt’s net international reserves comprise foreign currency earnings from Suez Canal revenues, gold holdings, export proceeds, and remittances from Egyptians working abroad.

Foreign Reserves Maintain Upward Momentum

In a separate development, Egypt’s official foreign reserves rose in March 2025 to $47.757 billion, compared to $47.394 billion in February. The composition of Egypt’s reserve portfolio is adjusted periodically in line with global currency trends and Central Bank policies.

Record-High Remittance Inflows

One of the most significant contributors to foreign currency stability has been the record-breaking inflows of workers’ remittances. During the first ten months of the 2024/2025 fiscal year (July–April), remittances soared by 77.1% to reach $29.4 billion, compared to $16.6 billion in the same period of the previous year.

From January to April 2025 alone, remittances increased by 72.3% year-on-year, reaching $12.4 billion. In April specifically, remittances climbed by 39% to $3.0 billion, up from $2.2 billion in April 2024.

This strong inflow of foreign currency continues to bolster Egypt’s external position, support the local currency, and improve liquidity across the banking sector.