The working week of Egyptian banks began on Sunday, October 12, 2025, with the announcement of foreign currency exchange rates against the Egyptian pound.

The value of the dollar increased by an average of 30 piastres against the pound compared to its price at the end of last week’s operations, reaching an average price in Egyptian banks of 47.92 EGP for selling and 47.82 EGP for buying.

Dollar exchange rate in Egyptian banks on Sunday, October 12, 2025

    • National Bank of Egypt: 47.92 EGP selling, 47.82 EGP buying.
    • Bank Misr: 47.91 EGP selling, 47.81 EGP buying.
    • Bank of Alexandria: 47.90 EGP selling, 47.80 EGP buying.
    • First Abu Dhabi Bank: 47.90 EGP selling, 47.80 EGP buying.
    • Abu Dhabi Islamic Bank: 47.63 EGP selling, 47.54 EGP buying.
    • United Bank: 47.88 EGP selling, 47.78 EGP buying.
    • Al Baraka Bank: 47.90 EGP selling, 47.80 EGP buying.
    • Suez Canal Bank: 48.05 EGP selling, 47.95 EGP buying.
    • Commercial International Bank: 47.86 EGP selling, 47.76 EGP buying.
    • Faisal Islamic Bank of Egypt: 47.91 EGP selling, 47.81 EGP buying.
    • Arab African International Bank: 47.89 EGP selling, 47.79 EGP buying.
    • Housing and Development Bank: 47.61 EGP selling, 47.51 EGP buying.
    • Crédit Agricole Bank: 47.91 EGP selling, 47.81 EGP buying.

Why do exchange rates differ between Egyptian banks?

Egyptian banks witness differences in the dollar exchange rate against the pound due to prices being subject to the supply and demand equation within each bank.

Several factors affect the price movement, most notably the local interest rate, remittances from Egyptians abroad, tourism and export revenues, the size of foreign currency reserves, inflation rate, global market movements and energy prices, in addition to investor confidence levels.

Egyptian banks apply a “managed flexible exchange rate” system, with the Central Bank of Egypt intervening when necessary to regulate the market and limit sharp fluctuations, while keeping prices within a specific regulatory range.

Central Bank of Egypt cuts interest rates

On Thursday, October 2, 2025, the Central Bank of Egypt cut interest rates by 100 basis points in its fourth reduction since the beginning of this year, bringing the deposit rate to 21% and the lending rate to 22%.

The decision came in response to inflation falling to 12% in August 2025, and the pound exchange rate improving to its highest level in more than a year, while the Central Bank confirmed that the price decline has become broad-based, and that the inflation target of 5%-9% by the fourth quarter of 2026 remains in place.