The Saudi riyal saw a notable upward movement against the Egyptian pound on Wednesday, December 24, 2025, at the close of evening trading in the Egyptian banking sector. This rise comes at a time when markets are closely monitoring the movements of foreign and Arab currencies, as the Saudi riyal is among the most sought-after currencies due to strong trade relations and continuous travel between the two countries.
Exchange rates of the Saudi Riyal in Egyptian banks
The latest price updates at the close of trading today showed a slight difference between government and private banks, with the following figures recorded:
- The Central Bank of Egypt: The average exchange rate recorded 12.67 Egyptian pounds for buying and 12.71 Egyptian pounds for selling.
- National Bank of Egypt: The exchange rate reached 12.63 Egyptian pounds for buying and 12.70 Egyptian pounds for selling.
- Bank of Egypt: The price stabilized at 12.63 Egyptian pounds for buying and 12.70 Egyptian pounds for selling.
- Bank of Alexandria: Recorded 12.66 pounds for buying, and 12.70 pounds for selling.
- The Commercial International Bank (CIB): The price reached 12.65 pounds for buying and 12.70 pounds for selling.
- Suez Canal Bank: Recorded 12.63 pounds for buying, and 12.72 pounds for selling.
- Abu Dhabi Islamic Bank: Recorded 12.67 pounds for buying, and 12.70 pounds for selling.
- Faisal Islamic Bank: It reached 12.64 pounds for buying, and 12.69 pounds for selling.
- National Bank of Kuwait: Recorded 12.59 pounds for buying, and 12.72 pounds for selling.
- Qatar National Bank (QNB): Recorded 12.58 Egyptian pounds for buying and 12.69 Egyptian pounds for selling.
The importance of exchange rate stability and its economic impact
The Saudi riyal holds particular importance in the Egyptian economy, extending beyond its status as a foreign currency, for several strategic and economic reasons. Firstly, remittances from Egyptians working in Saudi Arabia constitute a primary source of foreign currency in Egypt, and any fluctuation in the exchange rate directly impacts the value and purchasing power of these remittances within the local market.
Secondly, demand for the riyal is linked to religious tourism seasons (Hajj and Umrah), as demand typically increases as these seasons approach, potentially putting upward pressure on the price according to supply and demand mechanisms. The Central Bank of Egypt and banks operating in the market are committed to providing the necessary liquidity to meet these needs, ensuring market stability and preventing speculation.
Price determination mechanisms in the banking market
Currency exchange rates in Egyptian banks are subject to supply and demand within the framework of the flexible exchange rate system adopted by the state. Global economic indicators, oil prices, and the volume of trade between Egypt and Saudi Arabia play a pivotal role in determining price trends. Today's slight increase reflects normal market activity, as banks strive to maintain competitive margins to attract cash flow and meet the demands of both importers and travelers.
