On Monday, September 21, 2026, the US dollar concluded its transactions at 52.10 pounds for sale, marking the highest price among banks, and 52.00 pounds for purchase, as recorded by the Egyptian Gulf Bank. This stability above 52 pounds occurred during the first session of the week. The dollar's movement was confined to a limited range across banks, with purchase prices fluctuating between 51.87 and 52.00 pounds, and selling prices between 51.97 and 52.10 pounds.
The current trends in the Egyptian market are influenced by global economic factors, particularly the recent decision by the US Federal Reserve to raise interest rates by 25 basis points to a range of 3.75%-4% last week. This was the first increase in over three years, with expectations of a possible further hike. In Monday's trading, the dollar maintained its value against major currencies, while the Japanese yen declined, and markets closely monitored the possibility of Japanese authorities intervening in the foreign exchange market.
The dollar's performance against other currencies also played a role in its stability in Egypt. The dollar index remained high following the surge after the Federal Reserve's decision. Meanwhile, the Egyptian banking sector reflected this stability, with various banks listing close rates for the dollar. The Egyptian Gulf Bank, for instance, listed a buying price of 52.00 pounds and a selling price of 52.10 pounds.
Other banks in Egypt also showed similar trends in their dollar rates. The Abu Dhabi Islamic Bank listed a buying price of 51.99 pounds and a selling price of 52.09 pounds. The Kuwaiti National Bank of Egypt recorded a buying price of 51.95 pounds and a selling price of 52.05 pounds. These rates indicate a tight range of fluctuation, suggesting a period of stability in the currency market.
Further listings from banks across Egypt continued to show consistency in dollar rates. The Next Bank of Egypt priced the dollar at 51.95 pounds for buying and 52.05 pounds for selling. The Alexandria Bank listed the dollar at 51.92 pounds for purchase and 52.02 pounds for sale. The Suez Canal Bank and the United Bank also showed rates within a similar narrow range, reflecting overall market stability.
More banks, including the Arab African International Bank, the Arab International Bank, and the Abu Dhabi First Bank, listed their dollar rates within a comparable range. These banks' rates ranged from 51.88 to 52.00 pounds, reinforcing the observation of a stable currency market in Egypt on Monday. This stability is crucial for both economic predictability and investor confidence.
The consistent rates across major Egyptian banks, including the National Bank of Egypt, Bank Misr, Industrial Development Bank, and the Commercial International Bank, at 51.87 pounds for buying and 51.97 pounds for selling, underscore the uniformity in the pricing of the US dollar. This alignment across the banking sector suggests a synchronized approach to currency valuation, contributing to a stable economic environment.
Key points
- The Egyptian dollar rates remained stable, ranging between 51.87 and 52.10 pounds across various banks on Monday, September 21, 2026.
