The US dollar exchange rate against the Egyptian pound remained remarkably stable at the start of trading on Wednesday, February 4, 2026, in both public and private Egyptian banks. This stability is a positive indicator reflecting the impact of recent economic measures taken by the Central Bank of Egypt, aimed at balancing the foreign exchange market and supporting the national economy.
General context and background of exchange rate stability
This stability comes after a period of significant volatility for the Egyptian pound. In March 2024, the Central Bank made a historic decision to fully float the exchange rate, allowing it to be determined by market supply and demand. This measure was part of a broader reform package aimed at eliminating the parallel currency market (black market) and unifying the exchange rate, a key demand of international financial institutions, most notably the International Monetary Fund. This decision contributed to attracting substantial foreign currency inflows, most prominently the Ras al-Hikma project deal with the United Arab Emirates, which injected billions of dollars into the Egyptian economy, boosting foreign currency reserves and contributing to market stability.
The importance of dollar stability for the Egyptian economy
The stability of the dollar exchange rate is of paramount importance domestically, as it directly contributes to curbing inflation, given Egypt's reliance on imports for many essential goods and raw materials. When the exchange rate stabilizes, import costs become more predictable, positively impacting the prices of final consumer goods. This stability also boosts the confidence of both local and foreign investors, encouraging increased foreign direct investment that creates jobs and drives economic growth. Regionally and internationally, the stability of the Egyptian pound enhances Egypt's standing as a reliable investment destination in the region and improves its credit rating, facilitating access to future financing on more favorable terms.
Dollar exchange rates in major Egyptian banks today
The following are the details of the dollar exchange rates in a number of Egyptian banks today, Wednesday:
- The Central Bank of Egypt: The dollar recorded a price of 46.93 Egyptian pounds for buying and 47.06 Egyptian pounds for selling.
- National Bank of Egypt: The dollar was priced at 46.96 Egyptian pounds for buying and 47.06 Egyptian pounds for selling.
- Bank of Egypt: The dollar recorded a price of 46.96 Egyptian pounds for buying and 47.06 Egyptian pounds for selling.
- Commercial International Bank (CIB): The dollar was priced at 46.96 Egyptian pounds for buying and 47.06 Egyptian pounds for selling.
- Bank of Alexandria: The dollar recorded a price of 46.94 Egyptian pounds for buying and 47.04 Egyptian pounds for selling.
- Abu Dhabi Islamic Bank: The dollar was priced at 46.98 Egyptian pounds for buying and 47.08 Egyptian pounds for selling.
- Suez Canal Bank: The dollar price stabilized at 46.98 Egyptian pounds for buying and 47.08 Egyptian pounds for selling.
Market participants are anticipating the continuation of this stable performance, which is a key pillar for achieving sustainable economic growth in the coming period.
