Egypt: Dollar Falls to Le 48.36 As Pound Strengthens, Reserves Up 5.4 Percent to $49b

The US dollar's selling rate against the Egyptian pound fell by 4.9 percent, reaching LE 48.36 on August 14, 2025, compared to LE 50.84 on January 2, 2025.

The Cabinet's Information and Decision Support Center (IDSC) released a report, accompanied by infographics, showing that the pound has recorded its strongest performance against the dollar since the beginning of the year.

According to the report, Egypt's net international reserves grew by 5.4 percent, reaching an estimated 49 billion US dollars by the end of July 2025, compared to 46.5 billion US dollars at the same time in 2024.

The report also highlighted a 59.6 percent jump in workers' remittances, which totaled 15.8 billion US dollars between January and May 2025, up from 9.9 billion US dollars during the same period in 2024.

Exports rose by 20.5 percent, amounting to 22.3 billion US dollars between January and May 2025, compared to 18.5 billion US dollars in the corresponding period of 2024. At the same time, tourism revenues increased by 21.2 percent, reaching 8 billion US dollars between January and June 2025, compared to 6.6 billion US dollars a year earlier.

The report further reviewed international assessments of the pound's performance. Bloomberg noted that the Egyptian pound had reached its highest level this year, driven by lower oil prices, stronger exports, and growth in both tourism revenues and remittances.

The International Monetary Fund (IMF) stated that the flexible exchange rate policy has produced positive results, including narrowing the gap with the parallel market, eliminating the backlog of import requests, and strengthening foreign currency inflows from tourism and remittances.

Moody's emphasized that exchange rate flexibility, together with adequate foreign reserves, will help Egypt withstand external shocks. Meanwhile, Goldman Sachs highlighted that the pound's stability in recent months has contributed to easing import-driven inflation.

Read the original article on Egypt Online.

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