The dollar exceeded 55 pounds for the first time at Egyptian banks on Thursday, October 22, 2026, after the dollar rose between 90 and 92 piastres in buying and selling rates during the day’s trading, according to bank rates at the close of trading.
At the close, the dollar stood at 55.25 pounds to buy and 55.35 pounds to sell at the National Bank of Egypt, Banque du Caire and Suez Canal Bank, and 55.23 pounds to buy and 55.33 pounds to sell at Banque Misr, while Al Baraka Bank recorded the highest rate among the five banks, at 55.27 pounds to buy and 55.37 pounds to sell. The dollar had exceeded 55 pounds at 2 p.m. Cairo time, and the pound recorded its lowest level ever.
The pound fell 6.4% since the start of October, and dropped in the offshore market to 55.3019 pounds per dollar.
The official rate of the dollar was about 47.72 pounds on February 27, before the escalation of the war on Iran, meaning the pound has lost about 13.8% of its value since then. On the same day, Prime Minister Mostafa Madbouly said the price of a barrel of oil had risen to about $110, compared with $75 in the general budget.
Photo: Faris El-Gwely via Wikimedia Commons (CC BY-SA 3.0)
