Dollar Hits 56 Pounds in Egypt During Oct. 26 Trading Before Closing at 55.8
Key Facts
The dollar hit 56 pounds in Egypt during trading on Oct. 26, according to Investing.com data, after opening at 55.77 pounds and ending the day at 55.8 pounds, according to EL7 daily data. Investing.com data showed a positive daily change of 0.41%, with the price reaching 56 pounds during the session. The price thus touched the 56 level, but closed below it at 55.8 pounds. The dollar's closing price also rose from 53.86 pounds on Oct. 19 to 55.8 pounds on Oct. 26, according to EL7 data. This move puts the price above the previous week's close, while the recorded close remained below the session high cited in the data.
The dollar had closed at 53.18 pounds on Oct. 14, its highest level since May 19, according to a report by Al-Manassa citing data from the Central Bank of Egypt. After that, its recorded close in EL7 data reached 53.86 pounds on Oct. 19, before rising to 55.8 pounds on Oct. 26. The comparison between Oct. 14 and Oct. 26 shows the closing price moving from 53.18 to 55.8 pounds per dollar. Investing.com's record for Oct. 26 lists a price of 56 pounds and an opening price of 55.77 pounds. The data cited in the report do not establish a percentage decline in the currency since the start of the year.
The EGX70 EWI index comprises the 70 companies with the highest liquidity and trading activity, after excluding companies included in the EGX30 index, according to the Egyptian Exchange's definition. The exchange launched the index on Feb. 2, 2020, as an equal-weighted index of its constituent companies. No verified daily reading of EGX70's performance on Oct. 26 is available among the facts documented here, so the decline percentage cited in the initial draft cannot be confirmed. The facts also do not establish a causal link between the pound's movement and the index's performance that day. According to the exchange's definition, the index remains a measure of the segment of companies with liquidity and trading activity after EGX30 constituents are excluded.
Against the backdrop of the pound's movements in 2026, the International Monetary Fund said the currency fell by about 14–17% amid pressures related to the regional war, then recovered a large part of its losses as those pressures eased. The fund added that portfolio inflows returned as pressures receded. On debt flows, nonresident holdings of pound-denominated government debt fell from $39.1 billion in February to $22.2 billion in early April 2026. These figures provide context for currency movements and investment flows during earlier periods of the year, but they do not identify the cause of the dollar's movement on Oct. 26. Nor do they support a direct explanation of EGX70's movement on the same date based on those flows.
The IMF expects Egypt's gross financing needs to remain near 40% of gross domestic product in the near term, before gradually falling to below 30% by 2030. The fund recommended maintaining exchange-rate flexibility, adopting an appropriately tight monetary policy and exercising fiscal discipline to preserve macroeconomic stability. These recommendations provide a general framework for the policies the fund sees as supporting stability, while its projections trace the course of financing needs in the near term and through 2030. The latest daily reading available among these facts records the dollar's close at 55.8 pounds on Oct. 26. Investing.com data show it reached 56 pounds during the session, with an opening price of 55.77 pounds and a positive daily change of 0.41%.