The Egyptian pound strengthened against the US dollar in early November 2026, pushing the exchange rate below the 54-Egyptian pound threshold across major domestic lenders.
According to historical trading data cited by Mobtada, the dollar shed roughly 2.23 Egyptian pounds between November 1 and November 10, marking a decline of nearly 4% in just ten days. The descent followed a period when the exchange rate hovered near 56 pounds per dollar, driven by geopolitical tensions in the Middle East and an earlier interest rate hike by the Central Bank of Egypt.
On November 1, 2026, the dollar began the month at approximately 55.78 Egyptian pounds, before moving downward through daily intervals to reach 55.35 pounds on November 2, 55.31 pounds on November 3, and 54.72 pounds on November 4. Continuing its descent, the rate hit 53.90 pounds on November 5 and 53.82 pounds on November 6, followed by a temporary rise to 54.23 pounds on November 8, a retreat to 53.88 pounds on November 9, and 53.55 pounds on November 10.
Financial experts interviewed by Masrawy attributed the downward movement to a mix of returning foreign capital in government debt instruments and a cooling of global geopolitical tensions.
Economic experts explained that the return of foreign investors to the Egyptian market and their increased purchases of government bonds support the pound, with expectations that the dollar will continue to trade in a range of 54 to 56 pounds, alongside the possibility of dropping below 50 pounds if stability persists.
Yasser Hussein Salem, a lecturer at private and international universities, noted that escalating political and military tensions in the Middle East had previously pressured the Egyptian economy, while the central bank’s move to raise interest rates to 20% for deposits and 21% for lending served as a correct measure to absorb liquidity and curb price pressures.
Salem also highlighted that the renewal of the Saudi deposit at the Central Bank of Egypt supported the local currency.
- National Bank of Egypt: 53.27 to 53.93 pounds for buying, and 53.37 to 54.03 pounds for selling at various points during the trading days.
- Banque Misr: 53.47 to 53.98 pounds for buying, and 53.57 to 54.08 pounds for selling.
- Commercial International Bank (CIB): 53.05 to 53.95 pounds for buying, and 54.05 pounds for selling.
- Central Bank of Egypt: 54.17 pounds for buying, and 54.31 pounds for selling.
- United Bank: 53.87 pounds for buying, and 53.97 pounds for selling.
- Egyptian Gulf Bank: 54.14 pounds for buying, and 54.24 pounds for selling.
- Alexandria Bank: 53.97 pounds for buying, and 54.073 pounds for selling.
- Bank Al Baraka: 53.95 pounds for buying, and 54.05 pounds for selling.
- Credit Agricole Bank: 53.97 pounds for buying, and 54.07 pounds for selling.
- Housing and Development Bank: 54.00 pounds for buying, and 54.10 pounds for selling.
Hossam Eid, an economic expert speaking to Elwatannews, explained that the drop in the dollar means the Egyptian pound has recovered a portion of its value against the American currency, lowering the cost of acquiring US currency in pounds and easing pressures on companies and importers requiring dollars to finance their operations.
Eid added that continued stability and a sustained drop in the dollar could clear the path for a gradual decline in the costs of imported goods and local products reliant on imported components.
Foreign exchange reserves reached 57.5 billion dollars at the close of October 2026, providing the economy with an enhanced capacity to absorb external shocks and supply the country’s foreign currency needs.
