Egyptian pound falls for third consecutive session to 56.2267 per dollar
The Egyptian pound fell 0.80% to 56.2267 pounds per dollar in a third consecutive weaker fixing, as the dollar remained near a historical high of 56.35 pounds.
The average market price for the dollar at the Central Bank of Egypt reached 56.2267 pounds for buying and 56.3267 pounds for selling on Monday, October 26. The fixing came in 0.80% weaker than Sunday's fixing, marking the third consecutive decline for the pound.
Trading Economics placed the spot exchange rate for the dollar against the pound at 56.27, up 0.81% for the session. The pound remained close to the dollar's historical high of 56.35 pounds recorded in October 2026.
The pound has lost 18.59% of its value over the past twelve months. The third consecutive weaker fixing reflects continued pressure on the Egyptian currency during the week's trading, according to Central Bank data reported by The Edge.
In Monday's session, the Egyptian stock market's decline was less broad than previous sessions, with 84 stocks advancing against 133 declining, and the index closed far from the session low, according to The Edge.
What do these terms mean?
Fixing rate: The official exchange rate set by the central bank or calculated from average market transactions at the end of the day.
Spot exchange rate: The exchange rate of two currencies for immediate delivery or within two business days, used as a benchmark for market prices.
Average market price: A price calculated from the average buying and selling prices recorded during the day, used in official transactions.
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