The Saudi riyal's exchange rate against the Egyptian pound saw slight fluctuations at the start of trading on Tuesday, January 27, 2026, across Egypt's public and private banks. This fluctuation reflects relative stability in the foreign exchange market, with minor differences between buying and selling rates from one bank to another, which is normal under Egypt's current flexible exchange rate system.
The general economic context of exchange rate movements
This fluctuation in the exchange rate of the riyal against the pound occurs within a broader economic context. Following the Central Bank of Egypt's decision to fully liberalize the exchange rate, the pound's value is now determined primarily by supply and demand mechanisms in the banking market. This strategic shift in monetary policy aims to eliminate the parallel market and attract foreign investment, but it naturally leads to daily fluctuations in the exchange rates of foreign currencies against the pound, including the Saudi riyal, which holds particular importance in the Egyptian market.
The importance of the Saudi Riyal exchange rate to the Egyptian economy
The Saudi riyal's exchange rate is of paramount importance due to its direct link to one of Egypt's most significant sources of foreign currency: remittances from Egyptians working abroad. Saudi Arabia hosts the largest Egyptian expatriate community in the world, and their financial transfers are a vital lifeline for the Egyptian economy, contributing to foreign currency reserves and meeting the needs of thousands of Egyptian families. Therefore, any fluctuation in the riyal's exchange rate directly impacts the actual value of these remittances when received in Egyptian pounds, thus affecting the purchasing power of Egyptian citizens.
Direct impact on citizens and business sectors
The impact of the riyal's exchange rate extends beyond families receiving remittances, reaching other vital sectors. For example, millions of Muslims in Egypt rely on this rate to determine the final cost of Hajj and Umrah pilgrimages, as most fees and services are paid in Saudi riyals. The rate also affects bilateral trade between the two countries, as Saudi Arabia is a major trading partner for Egypt, impacting the prices of goods imported from the Kingdom and the competitiveness of Egyptian exports to it. Furthermore, the exchange rate plays a role in determining the cost of Saudi tourists visiting Egypt, a significant contributor to the Egyptian tourism sector.
List of Saudi Riyal exchange rates in Egyptian banks today
The following are the exchange rates of the Saudi Riyal in the most prominent banks operating in Egypt today, Tuesday:
- Central Bank of Egypt: 12.53 Egyptian pounds for buying, and 12.57 Egyptian pounds for selling.
- National Bank of Egypt: 12.49 Egyptian pounds for buying, and 12.57 Egyptian pounds for selling.
- Bank of Egypt: 12.49 Egyptian pounds for buying, and 12.57 Egyptian pounds for selling.
- Bank of Alexandria: 12.52 EGP for buying, and 12.57 EGP for selling.
- Suez Canal Bank: 12.49 Egyptian pounds for buying, and 12.58 Egyptian pounds for selling.
- Commercial International Bank (CIB): 12.52 EGP for buying, and 12.57 EGP for selling.
- Faisal Islamic Bank: 12.50 Egyptian pounds for buying, and 12.56 Egyptian pounds for selling.
- Abu Dhabi Islamic Bank: 12.54 Egyptian pounds for buying, and 12.57 Egyptian pounds for selling.
- National Bank of Kuwait: 12.42 Egyptian pounds for buying, and 12.70 Egyptian pounds for selling.
- Cairo Bank: 12.49 EGP for buying, and 12.57 EGP for selling.
