US Dollar Holds Above EGP 50 in Early Sunday Trade Amid Surge in Expat Remittances to $39.2 Billion

Sunday 16 August 2026 11:13

The US Dollar recorded a modest uptick against the Egyptian Pound (EGP) in early morning trading on Sunday, August 16, 2026, maintaining its position firmly above the EGP 50 threshold across state-owned and private banking institutions.

The foreign exchange market remains a critical gauge for domestic consumer prices in Egypt, given the economy's reliance on imported raw materials and consumer goods.

Key Macroeconomic Developments

Egypt’s broader macroeconomic framework saw two notable milestones:

First-Ever Tax Sukuk: Egyptian authorities approved a proposal to issue taxpayer-funded "Tax Sukuk" that will be credited against future tax liabilities. The measure represents a first-of-its-kind mechanism in modern Egyptian fiscal policy, enabling the state to advance tax collections through a structured factoring principle.

Surge in Expat Remittances: Remittances sent home by Egyptians working abroad surged by 33.2% during the first 10 months of FY 2025/2026 (July 2025 – April 2026), reaching $39.2 billion, up from $29.4 billion during the same period in the prior fiscal year.

US Dollar Exchange Rates Across Major Egyptian Banks

According to official data published by the Central Bank of Egypt (CBE) and major commercial lenders, US Dollar exchange rates stood as follows:

Banking InstitutionBuy Rate (EGP)Sell Rate (EGP)

Central Bank of Egypt (CBE) (Official Benchmark)50.2150.35

National Bank of Egypt (NBE)50.2350.33

Banque Misr50.2350.33

Commercial International Bank (CIB)50.2350.33

Bank of Alexandria50.2350.33

Abu Dhabi Islamic Bank (ADIB Egypt)50.2550.35

Arab Currency Exchange Rates Against the Egyptian Pound

Regional currencies also recorded marginal gains across local bank counters:

CurrencyFinancial InstitutionBuy Rate (EGP)Sell Rate (EGP)