The exchange rate of the Saudi riyal against the Egyptian pound saw a noticeable fluctuation at the close of trading on Monday, February 2, 2026, across various public and private banks operating in Egypt. This slight variation between banks reflects the supply and demand mechanisms in the banking market and occurs within a dynamic economic context, where the exchange rate serves as a vital indicator of the strong economic ties between the Kingdom of Saudi Arabia and the Arab Republic of Egypt.
The economic context and the importance of the Saudi Riyal exchange rate
The relationship between the Saudi Riyal and the Egyptian Pound is of strategic importance to both countries. This importance stems from the large volume of trade between them, substantial Saudi investments in Egypt, and the fact that the Kingdom is the primary destination for millions of Egyptians whose remittances constitute one of Egypt's most important sources of foreign currency. Historically, the Egyptian Pound's exchange rate has been influenced by several factors, most notably the Central Bank of Egypt's decision to liberalize the exchange rate (float it), a move aimed at eliminating the parallel market and attracting foreign investment. This liberalization has resulted in a more flexible exchange rate, directly affected by cash flows and the overall state of the economy.
The impact of the exchange rate on citizens and the economy
The exchange rate of the Saudi riyal directly impacts the lives of millions of Egyptian families who rely on remittances from their relatives working in Saudi Arabia. Every rise in the riyal's value translates to an increase in the value of these remittances in Egyptian pounds, thus boosting their purchasing power. On a commercial level, the rate affects the cost of Egyptian imports from and exports to Saudi Arabia. It also plays a pivotal role in determining the costs of Hajj and Umrah pilgrimages for Egyptians, as well as the tourism costs for Saudi visitors to Egypt, which is another significant source of foreign currency.
List of Saudi Riyal exchange rates in Egyptian banks today, Monday
Below are the details of the Saudi Riyal exchange rates in the most prominent Egyptian banks at the end of today's trading:
- Central Bank of Egypt: The buying price was recorded at 12.54 Egyptian pounds, and the selling price at 12.57 Egyptian pounds.
- National Bank of Egypt: The buying price was recorded at 12.50 Egyptian pounds, and the selling price at 12.57 Egyptian pounds.
- Bank of Egypt: The buying price was 12.50 Egyptian pounds, and the selling price was 12.57 Egyptian pounds.
- Bank of Alexandria: The buying price was recorded at 12.52 pounds, and the selling price at 12.56 pounds.
- Commercial International Bank (CIB): The buying price was recorded at 12.52 Egyptian pounds, and the selling price at 12.57 Egyptian pounds.
- Suez Canal Bank: The buying price was 12.49 Egyptian pounds, and the selling price was 12.57 Egyptian pounds.
- Faisal Islamic Bank: The purchase price was 12.50 pounds, and the selling price was 12.56 pounds.
- Abu Dhabi Islamic Bank: The buying price was recorded at 12.54 pounds, and the selling price at 12.57 pounds.
- Cairo Bank: The buying price was recorded at 12.52 Egyptian pounds, and the selling price at 12.59 Egyptian pounds.
- National Bank of Kuwait: The buying price was 12.41 pounds, and the selling price was 12.68 pounds.
