Exchange Rate Update: Dollar Rises Against Egyptian Pound at Banque Misr on June 13, 2026
As of June 13, 2026, the Egyptian pound (EGP) weakened to 30.85 EGP per U.S. dollar at Banque Misr, according to Al Se7as. The currency fell 26 piastres (0.84%) over 48 hours, reflecting persistent pressure from inflation and capital outflows. The Central Bank of Egypt (CBE) maintained its benchmark rate at 18.25% amid efforts to stabilize the currency.
The Nut Graf
The depreciation of the EGP against the dollar impacts import-dependent businesses, raises inflation risks, and complicates the CBE’s monetary policy. This development aligns with broader regional trends, as Gulf currencies and regional trade dynamics influence Egypt’s foreign exchange market.
The Bottom Line
- The EGP weakened 0.84% against the dollar at Banque Misr on June 13, 2026.
- Egypt’s annual inflation accelerated to 32.1% in May 2026, per the CBE, exacerbating currency pressure.
- The CBE’s unchanged policy rate suggests a focus on controlling price pressures over currency stabilization.
How the Dollar’s Rise Reflects Egypt’s Macroeconomic Challenges
The EGP’s decline to 30.85 EGP per dollar at Banque Misr underscores Egypt’s struggle to balance trade deficits and foreign exchange reserves. The country’s trade gap widened to $12.3 billion in Q1 2026, according to the Egyptian Ministry of Trade, driven by surging imports of food and energy. This deficit, coupled with a $3.2 billion current account shortfall in April 2026, has pressured the currency.
“The EGP’s weakness is a direct reflection of structural imbalances,” said Dr. Amr Adly, economist at the American University in Cairo. “Without significant fiscal reforms, the currency will remain vulnerable to external shocks.” Adly noted that Egypt’s reliance on short-term debt—$12 billion in 2026—heightens exposure to global interest rate fluctuations.
Comparative Exchange Rates Across Egyptian Banks
| Bank | Buying Rate (EGP/USD) | Selling Rate (EGP/USD) | Source |
|---|---|---|---|
| Banque Misr | 30.60 | 30.85 | Al Se7as |
| National Bank of Egypt | 30.55 | 30.80 | NBE |
| Commercial International Bank | 30.45 | 30.75 | CIB |
Regional Context and Global Implications
The EGP’s decline mirrors broader pressures on emerging market currencies. The Kuwaiti dinar (KWD) and Saudi riyal (SAR) have also faced volatility due to OPEC+ production cuts and U.S. interest rate uncertainty. For Egypt, the situation is compounded by its $23 billion debt servicing obligations in 2026, according to the International Monetary Fund (IMF).
“Egypt’s currency weakness could trigger a spiral of higher import costs and inflation,” said Dr. Hoda El-Nashar, senior economist at the IMF. “The CBE’s challenge is to maintain price stability without further restricting credit to a struggling private sector.” El-Nashar highlighted that Egypt’s 2026 GDP growth forecast of 4.5% hinges on stabilizing the EGP and attracting foreign investment.
Market Reactions and Business Implications
The EGP’s depreciation has already begun to affect Egyptian businesses. For example,
