Egypt Daily News – The dollar exchange rate against the pound recorded a drop below the 50-pound mark in banks today, Monday, May 19, 2025.
Dollar exchange rate at the Central Bank of Egypt
The dollar recorded a rate of around 50.04 pounds for buying and 50.17 pounds for selling at the Central Bank of Egypt, according to the latest update.
Dollar rate at the National Bank of Egypt today
Today, the dollar rate at the National Bank of Egypt reached around 49.98 pounds for buying and 50.08 pounds for selling.
Dollar rate today at Banque Misr
The dollar rate at Banque Misr today was 49.98 pounds for buying and 50.08 pounds for selling.
Dollar rate at Alexandria Bank
The dollar rate at Alexandria Bank today was 49.97 pounds for buying and 50.07 pounds for selling.
Net foreign currency reserves in Egypt
Egypt’s foreign currency reserves rose to 48.144 billion dollars by the end of last April, compared to 47.757 billion dollars in March 2025, according to data from the Central Bank of Egypt, an increase of 387 million dollars.
The foreign currency reserve levels recorded last April are considered the highest in decades.
Egypt’s foreign reserves consist of the country’s gold reserves, Suez Canal revenues, export proceeds, and remittances from Egyptians working abroad.
It is worth noting that Egypt’s foreign currency reserves rose in March to reach 47.757 billion dollars compared to 47.394 billion in February 2025.
Egypt’s holdings of these currencies are allocated based on exchange rates and their stability in global markets, and they change according to a strategy set by officials at the Central Bank of Egypt.
Remittances from Egyptians abroad
The Central Bank of Egypt revealed that remittances from Egyptians working abroad increased to 17.1 billion dollars during the period from July to December 2024, compared to 9.4 billion dollars during the same period of the previous year, according to the balance of payments report.
A report issued by the Central Bank of Egypt showed that the balance of payments recorded an overall deficit of 502.6 million dollars during the first half of the fiscal year 2024/2025 (July to December 2024), compared to a deficit of 409.6 million dollars during the same period of the previous year.
According to the Central Bank of Egypt’s report, the current account deficit rose to 11.1 billion dollars compared to 9.6 billion dollars, driven by a 47.4% increase in the trade balance deficit to reach 27.5 billion dollars, along with a 21.2% decline in the services balance surplus, which only recorded 7.2 billion dollars.
