The Egyptian banking sector witnessed a turbulent close to the trading week as the US Dollar surged to unprecedented heights against the Egyptian Pound. Both the National Bank of Egypt and Banque Cairo followed a similar trajectory, closing at LE 52.39 (buy) and LE 52.49 (sell), marking a weekly increase of LE 2.30. Crédit Agricoleposted the week’s steepest climb of LE 2.45, setting its rates at LE 52.50 for purchase and LE 52.60 for sale. Abu Dhabi Islamic Bank matched this selling price, though its weekly increase was slightly more conservative at LE 2.17. Other major institutions, including Bank of Alexandria, the Housing & Development Bank, and Al Baraka Bank, all converged around the LE 52.45–52.49 selling range, further cementing the pound’s new historic low.

Source: Egypt Independent March 13, 2026 12:28 UTC