The Saudi riyal's exchange rate against the Egyptian pound saw noticeable fluctuations on Wednesday, December 31, 2025, at the start of trading in Egyptian state-owned and commercial banks. This slight variation is part of the supply and demand dynamics that govern the foreign exchange market in Egypt, and is being closely monitored by importers and citizens wishing to travel to Saudi Arabia.
The importance of the Saudi Riyal in the Egyptian economy
The Saudi riyal exchange rate is of paramount importance to the Egyptian public and the local economy, given the strong trade and economic ties between Cairo and Riyadh. Remittances from Egyptians working in Saudi Arabia are a major source of foreign currency for Egypt's reserves. Furthermore, demand for the Saudi currency increases periodically to cover expenses during the Hajj and Umrah pilgrimages, making the stability or volatility of the exchange rate a significant indicator of the overall economic situation.
Exchange rate determination mechanism
Since the liberalization of the exchange rate and the adoption of a free market mechanism, foreign currency exchange rates, including the Saudi riyal, are determined by interbank supply and demand. The slight variations between different banks reflect each bank's strategy for attracting currency and providing the necessary liquidity for its clients, which explains the minor differences in rates between the central bank and commercial and private banks.
Details of the Saudi Riyal exchange rate in Egyptian banks today
The exchange rates for Wednesday, according to the latest updates on bank trading screens, are as follows:
- The Central Bank of Egypt: The average official price recorded was 12.70 Egyptian pounds for buying and 12.73 Egyptian pounds for selling.
- National Bank of Egypt: The price remained stable at 12.67 Egyptian pounds for buying and 12.74 Egyptian pounds for selling, as it is the largest government bank.
- Bank of Egypt: Recorded the same levels as the National Bank of Egypt at 12.67 pounds for buying and 12.74 pounds for selling.
- Bank of Alexandria: The price reached 12.70 pounds for buying, and 12.74 pounds for selling.
- Commercial International Bank (CIB): The riyal recorded 12.69 Egyptian pounds for buying and 12.74 Egyptian pounds for selling.
- Abu Dhabi Islamic Bank: Offered one of the best buying prices at 12.72 pounds, and recorded 12.74 pounds for selling.
- Suez Canal Bank: Recorded 12.66 pounds for buying, and 12.75 pounds for selling.
- Faisal Islamic Bank: The price reached 12.67 pounds for buying and 12.73 pounds for selling.
- National Bank of Kuwait: Recorded 12.61 pounds for buying, and 12.74 pounds for selling.
- Qatar National Bank (QNB): Recorded 12.63 Egyptian pounds for buying and 12.73 Egyptian pounds for selling.
Traders are advised to follow real-time updates via official banking applications, as slight changes in prices may occur during official working hours based on trading volume.
