The Saudi riyal's exchange rate against the Egyptian pound saw noticeable fluctuations at the start of trading on Sunday, February 1, 2026, across various public and private banks operating in Egypt. This daily volatility reflects the ongoing dynamics of the foreign exchange market, which is influenced by a range of local and regional economic factors, and is particularly significant given the close economic ties between Egypt and Saudi Arabia.
The economic context and the importance of the riyal exchange rate
Interest in the Saudi riyal exchange rate isn't limited to importers and exporters; it extends to a broad segment of the Egyptian population. The relationship between the two countries transcends bilateral trade and mutual investments, encompassing a vital social and economic aspect: the Egyptian workforce in the Kingdom. Remittances from Egyptians working in Saudi Arabia are among Egypt's most important sources of foreign currency, and their volume and value in Egyptian pounds are directly affected by exchange rate fluctuations, impacting the living standards of millions of families in Egypt.
Impact on citizens and the macroeconomy
The exchange rate of the Saudi riyal directly impacts the costs of Hajj and Umrah pilgrimages, which hold significant spiritual and economic importance for Egyptians. Any increase in the riyal's value translates to higher costs for services in Saudi Arabia, from accommodation to transportation. On a broader economic level, the exchange rate is crucial as it reflects the monetary policies of the Central Bank of Egypt, particularly following the adoption of a flexible exchange rate policy aimed at addressing economic challenges, enhancing the competitiveness of Egyptian exports, and attracting foreign investment.
Saudi Riyal exchange rates in major Egyptian banks today, Sunday
Below is a breakdown of the Saudi Riyal exchange rates in several major Egyptian banks for today:
- The Central Bank of Egypt: The buying price was recorded at 12.49 Egyptian pounds, and the selling price at 12.53 Egyptian pounds.
- National Bank of Egypt: The buying price was recorded at 12.46 Egyptian pounds, and the selling price at 12.53 Egyptian pounds.
- Bank of Egypt: The buying price was 12.46 Egyptian pounds, and the selling price was 12.53 Egyptian pounds.
- Bank of Alexandria: The buying price was recorded at 12.49 pounds, and the selling price at 12.53 pounds.
- Suez Canal Bank: The buying price was 12.45 Egyptian pounds, and the selling price was 12.53 Egyptian pounds.
- Commercial International Bank (CIB): The buying price was recorded at 12.48 Egyptian pounds, and the selling price at 12.53 Egyptian pounds.
- Faisal Islamic Bank: The purchase price was 12.45 pounds, and the selling price was 12.51 pounds.
- Abu Dhabi Islamic Bank: The buying price was recorded at 12.50 pounds, and the selling price at 12.53 pounds.
- National Bank of Kuwait: The buying price was 12.38 pounds, and the selling price was 12.66 pounds.
- Cairo Bank: The buying price was recorded at 12.49 Egyptian pounds, and the selling price at 12.57 Egyptian pounds.
