The Saudi riyal saw a slight decline against the Egyptian pound at the close of trading in Egyptian banks on Tuesday, January 27, 2026. This change, though minor, is particularly significant given the close economic ties between the Kingdom of Saudi Arabia and the Arab Republic of Egypt, and is closely followed by millions of Egyptians working in the Kingdom and their families in Egypt. The exchange rate between the two currencies reflects the supply and demand for foreign currency and is influenced by numerous local and regional economic factors.
The economic context of the relationship between the riyal and the pound
Historically, the Saudi riyal's exchange rate against the Egyptian pound has been directly influenced by Egypt's economic reforms. Since the Central Bank of Egypt's decision to liberalize the pound's exchange rate (float it) in March 2014, following similar measures, the exchange rate has become more flexible and is determined by market mechanisms. This has led to a significant change in the pound's value against major foreign currencies, including the Saudi riyal. Remittances from Egyptians working abroad, particularly in Saudi Arabia, are one of Egypt's most important sources of foreign currency, making the stability of this exchange rate crucial for supporting Egypt's balance of payments.
The importance of the exchange rate and its expected impact
Any change in the exchange rate of the Saudi riyal against the Egyptian pound has multiple effects. Domestically, it directly impacts the purchasing power of Egyptian families who rely on remittances from their relatives working in Saudi Arabia. When the riyal depreciates, families receive fewer Egyptian pounds for every riyal sent. On the trade front, the exchange rate affects the cost of Saudi imports to Egypt and Egyptian exports to Saudi Arabia, two major trading partners. Regionally, the exchange rate reflects the strength and stability of the two largest economies in the region and influences investment decisions and tourism between the two countries.
Saudi Riyal exchange rates in major Egyptian banks today
The exchange rates for the Saudi Riyal at the end of trading on Tuesday in a number of Egyptian banks were as follows:
- Central Bank of Egypt: 12.53 Egyptian pounds for buying, and 12.56 Egyptian pounds for selling.
- National Bank of Egypt: 12.49 Egyptian pounds for buying, and 12.56 Egyptian pounds for selling.
- Bank of Egypt: 12.49 Egyptian pounds for buying, and 12.56 Egyptian pounds for selling.
- Bank of Alexandria: 12.52 EGP for buying, and 12.56 EGP for selling.
- Suez Canal Bank: 12.48 Egyptian pounds for buying, and 12.57 Egyptian pounds for selling.
- Commercial International Bank (CIB): 12.51 EGP for buying, and 12.56 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: 12.40 Egyptian pounds for buying, and 12.68 Egyptian pounds for selling.
- Cairo Bank: 12.49 EGP for buying, and 12.57 EGP for selling.
The exchange rate of the Saudi riyal against the Egyptian pound remains an important economic indicator, and it continues to be closely monitored by both investors and individuals, given its broad implications for various aspects of economic life in Egypt.
