Ahmed Kamel – Egypt Daily News
The Egyptian pound strengthened against the US dollar for the third consecutive day on Wednesday, continuing a recovery after recent volatility driven by regional tensions and capital outflows.
The dollar had previously surged to nearly 53 pounds amid heightened uncertainty following the escalation of the Iran conflict and increased withdrawals of foreign investments from Egypt’s secondary government debt market. However, it has since retreated to trade slightly above 52 pounds in banking transactions, just hours before the Eid al-Fitr holiday.
According to banking data, the highest exchange rate for the dollar was recorded at around 52.34 pounds for buying and 52.44 pounds for selling at several banks, while the lowest stood near 52.20 pounds for buying and 52.30 pounds for selling. At the Central Bank of Egypt, the dollar was listed at approximately 52.29 pounds for buying and 52.43 pounds for selling.
The central bank announced that all banks operating in Egypt will suspend work from Thursday, March 19, through Monday, March 23, in observance of Eid al-Fitr, with operations set to resume on Tuesday, March 24.
Despite recent pressures, the Egyptian pound had ended 2025 on a strong note, appreciating by 6.7 percent against the US dollar over the year. This performance was supported by a surge in remittances from Egyptians working abroad and improved liquidity conditions in the domestic banking sector.
Analysts say the pound’s recent rebound reflects a degree of resilience, though its near-term outlook remains closely tied to regional geopolitical developments and investor sentiment.
