The Saudi riyal remained remarkably stable against the Egyptian pound at the start of trading on Wednesday, February 4, 2026, across various public and private banks operating in Egypt. This stability comes amidst a new phase for the Egyptian economy following a series of structural reforms aimed at achieving balance in the foreign exchange market.
Historical background and economic context
The current stability of the exchange rate comes after a period of volatility for the Egyptian pound, which culminated in the Central Bank of Egypt's decision in March 2014 to fully float the currency, allowing it to trade according to supply and demand. This landmark decision eliminated the parallel currency market and unified the official exchange rate, leading to a revaluation of the pound against major foreign currencies, including the Saudi riyal. The relationship between the riyal and the pound is particularly significant given the deep economic and trade ties between Egypt and Saudi Arabia, with the Kingdom being a major trading partner for Egypt and a significant source of foreign direct investment.
The importance of the riyal exchange rate to the Egyptian economy
The Saudi riyal exchange rate is a vital indicator for broad segments of Egyptian society. The Kingdom hosts the largest Egyptian expatriate community, and their remittances in riyals are among Egypt's most important sources of foreign currency, contributing to the balance of payments and bolstering foreign exchange reserves. Therefore, a stable exchange rate provides a sense of certainty for Egyptians working abroad and their families in Egypt, facilitating their financial planning. Furthermore, the riyal's value directly impacts the costs of Hajj and Umrah pilgrimages for Egyptian citizens, which represent significant religious and economic journeys for millions annually.
Saudi Riyal exchange rates in major Egyptian banks
The following are the exchange rates of the Saudi Riyal against the Egyptian Pound for Wednesday, according to the latest updates issued by the banks:
- Central Bank of Egypt: 12.51 Egyptian pounds for buying, and 12.55 Egyptian pounds for selling.
- National Bank of Egypt: 12.48 Egyptian pounds for buying, and 12.55 Egyptian pounds for selling.
- Bank of Egypt: 12.48 Egyptian pounds for buying, and 12.55 Egyptian pounds for selling.
- Bank of Alexandria: 12.50 EGP for buying, and 12.55 EGP for selling.
- Commercial International Bank (CIB): 12.50 EGP for buying, and 12.55 EGP for selling.
- Suez Canal Bank: 12.48 Egyptian pounds for buying, and 12.56 Egyptian pounds for selling.
- Abu Dhabi Islamic Bank: 12.53 Egyptian pounds for buying, and 12.55 Egyptian pounds for selling.
- Faisal Islamic Bank: 12.47 Egyptian pounds for buying, and 12.54 Egyptian pounds for selling.
- Cairo Bank: 12.51 EGP for buying, and 12.58 EGP for selling.
- National Bank of Kuwait: 12.39 Egyptian pounds for buying, and 12.67 Egyptian pounds for selling.
