US dollar holds steady against Egyptian pound across major banks on September 1 | World News – The Times of India – Delhi News Daily

The US dollar remained steady at EGP 48.54 for buying and EGP 48.64 for selling across major Egyptian banks/Representative Image

The US dollar exchange rate remained stable against the Egyptian pound during midday trading on Monday, September 1, 2025, reflecting a consistent trend across major state-owned and private sector banks. No fluctuations were recorded compared to previous sessions, with a uniform rate prevailing across the banking sector.

Central bank of Egypt reports unchanged rates

The Central Bank of Egypt (CBE) recorded a slight gap between buying and selling rates for the US dollar during midday trading. As of Monday, the dollar stood at:

These rates reflect the central authority’s benchmark for interbank foreign exchange activity and indicate no significant movement since the previous session, maintaining the broader picture of currency stability.

Consistent dollar rates across state owned banks

Egypt’s largest state-owned banks, including the National Bank of Egypt (NBE) and Banque Misr, mirrored the same exchange rate for the dollar. These banks listed:

The figures demonstrate a unified stance on foreign exchange pricing, likely guided by overarching monetary policy or prevailing interbank averages. This stability helps reinforce confidence in the local market and provides predictability for both retail and corporate customers dealing with foreign currency.

Private and joint venture banks align with national trend

Several private and joint-venture institutions reported identical rates to their state-owned counterparts. The following banks all posted the same exchange rate for the dollar:

Each of these banks listed the USD at:

This rate parity across public and private banking institutions underscores a broader stability in Egypt’s foreign exchange market, at least in terms of retail and over-the-counter rates. It also suggests a tightly managed float or alignment with central bank benchmarks.

Market context and observations

The current static rate pattern signals an absence of immediate pressure on the local currency in the short term. While the Egyptian pound remains under long-term devaluation pressures due to inflation and external debt challenges, the midday snapshot from September 1 points to a moment of calm in the currency markets.No bank diverged from the prevailing EGP 48.54 / EGP 48.64 buy-sell range (except the Central Bank’s slightly lower purchase price of EGP 48.52), indicating: