Investors and citizens are closely following the movements of the US currency in light of recent economic changes, especially with the rise in foreign investments in Egyptian debt instruments and the unprecedented surge in remittances from Egyptians working abroad.
Foreign
investments in treasury bills exceed $35 billion
Official data showed that total foreign investments in Egyptian treasury bills rose to approximately $35.26 billion by the end of January 2025, compared to $32.05 billion in December 2024. This increase, based on the dollar exchange rate of EGP 50.3, reflects improved foreign investor confidence in Egypt's economic situation.
Remittances
from Egyptians Abroad Record a Historic Jump
In another positive development, remittances from Egyptians working abroad jumped by 72.4% between March 2024 and February 2025, reaching approximately $32.6 billion, compared to approximately $18.9 billion during the same period of the previous year.
Remittances during February 2025, in particular, recorded a historic high for the month of February, reaching approximately $3 billion, compared to only $1.3 billion in February 2024, continuing their rise for the twelfth consecutive month.
Today's
Dollar Rates in Egyptian Banks
The following are the dollar rates against the Egyptian pound at the major banks operating in the market:
Emirates NBD Bank: Buying EGP 50.46, selling EGP 50.36
Commercial International Bank: Buying EGP 50.46, selling EGP 50.36
National Bank of Egypt: Buying EGP 50.46, selling EGP 50.36
Faisal Islamic Bank: Buying EGP 50.66, selling EGP 50.66
Abu
Dhabi Islamic Bank: Buying EGP 50.55, selling EGP 50.44
Arab African International Bank: Buying EGP 50.47, selling EGP 50.37
Banque
Misr: Buying EGP 50.50, selling EGP 50.40
Export Development Bank: Buying EGP 50.48, selling EGP 50.38
Housing
and Development Bank: Buying EGP 50.46, selling EGP 50.36
Ahli United Bank of Kuwait: Buying EGP 50.48, selling EGP 50.38
National Bank of Kuwait: Buying EGP 50.47, selling EGP 50.37