US dollar passes EGP 55 for the first time at Egyptian banks
Selling rates closed between EGP 55.33 and 55.37 across five banks on Thursday 22 October, after a rise of about 0.90 pounds in a single day, Egyptian Streets reports citing Ahram Online.
23 October 2026
The US dollar passed 55 Egyptian pounds for the first time on Thursday 22 October, with selling rates reaching EGP 55.37 by the close of business, Egyptian Streets reports.
Among five banks listed, Banque Misr showed the lowest selling rate at EGP 55.33. The National Bank of Egypt, Banque du Caire and Suez Canal Bank each showed EGP 55.35, and Al Baraka Bank the highest at EGP 55.37.
Buying and selling rates rose by between EGP 0.90 and EGP 0.92 across those five banks during Thursday's trading, the outlet reports, citing Ahram Online.
The official rate stood at about EGP 47.72 to the dollar on 27 February. On the figures reported by Ahram Online, the pound has lost about 13.8 percent against the dollar since then.
Egypt moved to a flexible exchange rate on 6 March 2024, when the Central Bank of Egypt allowed the pound's value to be set by market forces and raised key interest rates by 600 basis points. The change was part of IMF-supported reforms intended to unify the official and parallel rates and address foreign currency shortages.
Selling rates are what customers pay to buy dollars, and buying rates what banks pay customers selling them. The rates differ from bank to bank.