US Dollar Slumps Against Egyptian Pound in Morning Trade

The US dollar exchange rate recorded a notable decline against the Egyptian pound during morning trading on Thursday, October 29, 2026, falling below the 56 pounds buying threshold for the first time in three consecutive days across four major banks operating in the Egyptian banking sector.

Official data published on the websites of these banks at 11:06 AM showed that the drop in the US currency ranged between a minimum of 8 piasters and a maximum of 12 piasters for both buying and selling rates, compared to the levels at which the banks opened their morning transactions earlier that same day.

Commercial International Bank led the four banks in terms of the magnitude of the decline, with the dollar price dropping by 12 piasters for buying and selling to settle at 55.95 pounds for buying and 56.05 pounds for selling. Meanwhile, Banque Misr and Banque du Caire recorded an identical drop of 9 piasters for buying and selling in both institutions, bringing their rate to 55.98 pounds for buying and 56.08 pounds for selling. At the National Bank of Egypt, the decline reached 8 piasters for buying and selling, settling at 55.99 pounds for buying and 56.09 pounds for selling.