Egyptian Pound Strengthens as US Dollar Drops Below 50 EGP in All Banks
The Egyptian pound strengthened against the US dollar in early August 2026, with the dollar falling below 50 EGP across all Egyptian banks. This shift, supported by record-high foreign currency reserves of $53.134 billion and surging remittances, has decoupled local gold prices from currency volatility, aligning them more closely with global markets. The US dollar … Read more