Egypt's pound weakened past 53 to the US dollar on Wednesday, October 14, 2026, with the central bank's official rate closing at 53.04 pounds to buy and 53.18 to sell — its weakest level since May 19, according to Rio Times Online. Rising oil prices, a strong global dollar and foreign investors selling Egyptian treasury bills were cited as the main pressures on the currency.
The Egyptian pound weakened past 53 to the US dollar on Wednesday, October 14, 2026. According to Rio Times Online, the Central Bank of Egypt's official rate closed at 53.04 pounds to buy a dollar and 53.18 pounds to sell one, down about 0.5% from Tuesday's close of 52.90 and the pound's weakest level since May 19, 2026.
Rates moved during the day. Egyptian financial news site Amwal Al Ghad reported that in early trading, at 11:22 a.m. local time, the pound stood at 52.98 for buying and 53.08 for selling, with individual banks quoting slightly different rates.
Why dollars are scarce
Rio Times Online said the main pressures on the pound were rising oil prices and foreign investors pulling money out of Egyptian debt. Brent crude traded above $100 a barrel, reaching $107.15 on October 14, the outlet reported, raising the cost of fuel imports for a country that imports more energy than it exports.
Foreign investors sold a net 5.8 billion pounds (about $109 million) of Egyptian treasury bills on October 14, according to Rio Times Online. An analyst cited by the outlet pointed to higher US bond yields and expectations that the US Federal Reserve will keep raising interest rates while Egypt's central bank holds its own rate steady, a gap that reduces the appeal of holding Egyptian debt for foreign money.
Separately, Bulgaria-based financial outlet see.news reported that the US dollar index stood at 102.39 on October 12, near an 18-month peak amid Middle East tensions, while Brent crude had climbed to $106.80 a barrel that day, up 2.09% on rising regional risk.
Pound-dollar rates at Egyptian banks, morning of October 14, 2026
Bank
Buy (EGP)
Sell (EGP)
National Bank of Egypt
53.03
53.13
Banque Misr
52.96
53.06
Commercial International Bank
53.05
53.15
QNB Alahli
53.03
53.13
Abu Dhabi Islamic Bank
52.80
52.90
A currency already under strain since March
Wednesday's close was weaker than the rate recorded on March 8, 2026, when the pound fell to 52.15 pounds to buy and 52.25 to sell — at the time reported by The National as the lowest official level on record. That drop followed a foreign sell-off of an estimated $2 billion to $5 billion from Egyptian treasury bills and bonds, triggered by the expansion of the Israel-Iran war that began around February 28, 2026.
The Times of Israel's live coverage of that period reported that fighting disrupted shipping through the Suez Canal, a key source of Egypt's foreign-currency earnings, and that Brent crude jumped 28% to above $92 a barrel within a week. Egyptian inflation stood at 11.9% in January 2026, the outlet said.
a state of near-emergency
— Egyptian President Abdel Fattah el-Sisi, quoted by The Times of Israel in March 2026
The National reported that Egyptian officials said foreign-exchange reserves of $52.746 billion in February 2026 were sufficient to absorb currency volatility and to cover food and fuel needs for six months.
Rio Times Online did not report any new comment from the Central Bank of Egypt on October 14 about intervening in the market or changing policy.
What is offsetting the pressure
Rio Times Online reported that remittances sent home by Egyptians abroad rose 27.2% to $33.9 billion between January and August 2026, and that tourism income remained strong, both helping to supply the economy with hard currency even as the pound weakens.
On the demand side, see.news reported that Egypt's fuel import bill reached about $21.8 billion in the first nine months of 2026, a 36% increase from $16 billion in the same period of 2025. The increase was split across natural gas ($10.54 billion), petroleum products ($7.42 billion) and crude oil ($3.37 billion), with the government attributing the rise to higher summer electricity demand and the cost of liquefied natural gas shipments amid regional instability.
Questions
What is the exchange rate of the Egyptian pound to the dollar right now?
On October 14, 2026, the Central Bank of Egypt's official rate closed at 53.04 pounds to buy and 53.18 pounds to sell per US dollar, according to Rio Times Online. Individual banks quoted slightly different rates that morning, ranging from about 52.80 to 53.15 for selling.
Why is the Egyptian pound falling?
Rio Times Online attributed the drop to oil prices above $100 a barrel, foreign investors selling Egyptian treasury bills, and a strong global dollar, with an analyst cited by the outlet pointing to expectations that the US Federal Reserve will keep raising rates while Egypt's central bank holds its rate steady.
Is this the lowest the Egyptian pound has ever been against the dollar?
Rio Times Online described October 14's close as the weakest level since May 19, 2026, a five-month low, rather than an all-time record. A separate, deeper slide to 52.25 pounds per dollar in March 2026 was reported by The National as the lowest official level on record at that time.
What is cushioning Egypt's economy despite the weaker pound?
Rio Times Online reported that remittances from Egyptians working abroad rose 27.2% to $33.9 billion in January-August 2026 and that tourism income stayed strong, both bringing in foreign currency.
Why do fuel imports affect the pound's value?
see.news reported Egypt's fuel import bill rose 36% year-on-year to about $21.8 billion in the first nine months of 2026, driven by natural gas, petroleum product and crude oil purchases, which increases demand for dollars.
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