Egypt’s dollar rate nears EGP 55. Will it break soon?
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The U.S. dollar moved closer to the EGP 55 mark in Egypt by the close of trading on Tuesday, March 31, 2026, underscoring continued pressure on the Egyptian pound. According to Central Bank of Egypt data, the average exchange rate stood at EGP 54.5366 for buying and EGP 54.6366 for selling.
The move comes as broader economic pressure continues to build. A Reuters poll showed that Egypt’s central bank is expected to keep interest rates unchanged even after annual urban consumer inflation rose to 13.4 percent in February. Reuters also reported that Egypt’s energy import bill has more than doubled since the regional war began, adding fresh strain to public finances and the foreign exchange market.
The pound is also facing pressure from capital outflows. Reuters reported that foreign investor exits from local currency debt instruments since February 28 were estimated at between 5 billion and 8 billion dollars. In the same reporting, banking estimates suggested that if the conflict persists, the pound could move beyond EGP 55 per dollar.
Based on these indicators, a break above EGP 55 no longer looks remote. It now appears plausible in the near term if current pressures continue without meaningful easing in energy markets or stronger foreign currency inflows. The bigger issue, however, is not whether the market touches that level, but whether it can remain above it for any sustained period.
