cairo – The Egyptian pound continued its downward trajectory against the U.S. dollar Thursday, with a notable divergence in exchange rates among local banks. The Export Progress Bank of Egypt led the shift, reaching a record high selling rate of 47.42 pounds per dollar at the close of trading January 8, 2026. This volatility comes amid ongoing economic pressures and increased demand for foreign currency, prompting close observation by both businesses and consumers across the north African nation.
Export Development Bank of Egypt surpassed the 47.40 Egyptian pound mark, registering a record high selling rate of 47.42 pounds per U.S. dollar, as exchange rates varied significantly among Egyptian banks at the close of trading on Thursday, January 8, 2026.
Monitoring by Sada El Balad revealed a gap of 29 piasters between the highest and lowest rates offered by banks. Emirates Dubai National Bank offered a lower rate of 47.13 Egyptian pounds for purchases and 47.23 for sales, while Export Development Bank jumped to 47.32 for purchases and 47.42 for sales.
قد يعجبك أيضا :
Several major banks clustered around an average rate, with Banque du Caire, Egyptian Gulf Bank, and Arab African International Bank all posting rates of 47.25 for purchases and 47.35 for sales. Abu Dhabi Islamic Bank recorded a slightly lower rate of 47.24 and 47.34 Egyptian pounds.
A notable grouping of banks – including National Bank of Egypt, Banque Misr, Suez Canal Bank, Arab Banking Corporation, Meed Bank, and Faisal Islamic Bank – settled on a unified rate of 47.23 for purchases and 47.33 for sales.
قد يعجبك أيضا :
- Group Two: included banks Alexandria, Commercial International Bank, United Bank, Arab Bank, and Industrial Development Bank (47.22 – 47.32)
- Group Three: Housing and Development Bank operating independently (47.21 – 47.31)
- The Large Alliance: 8 banks led by HSBC settled at (47.20 – 47.30)
In contrast to this dispersion, the Central Bank of Egypt maintained a mid-range position at 47.20 Egyptian pounds for purchases and 47.34 for sales. Abu Dhabi Commercial Bank, First Abu Dhabi Bank, and Egyptian Arab Land Bank offered the lowest rates at 47.10 and 47.20 Egyptian pounds.
