The dollar’s exchange rate against the Egyptian pound has continued its downward trajectory, which began several days ago amid growing optimism that a deal to end the US war on Iran is within reach. On Tuesday, Central Bank data recorded the dollar at 50.29 pounds (selling rate), its lowest level since March 5.
Ibrahim Adel, macroeconomic analyst at Mubashir Securities, attributed the continued decline to a notable recent surge in remittances from Egyptians abroad, which has bolstered the pound. He also pointed to positive news on rising tourism revenues, coinciding with global optimism that the economic fallout from the Iran war may be drawing to a close.
Remittances rose sharply during the war months, as Egyptians working in the Gulf grew anxious over Iranian strikes on US bases in the region. Transfers in March and April alone reached approximately $10 billion, according to the latest Central Bank figures.
The most recent balance of payments data, covering July 2025 through March 2026, showed tourism revenues climbing roughly 15%, reaching $14.4 billion.
Adel cautioned that predicting the dollar’s trajectory in the coming days remains difficult, as it will depend largely on whether current stabilization efforts succeed.
He did note, however, that a prolonged period of stability would strengthen the pound over the medium term by encouraging greater foreign investment flows into Egypt.
After 67 days of negotiations, the United States and Iran reached a framework agreement to halt the war that has been ongoing since late February. The deal includes an end to military operations on all fronts, the reopening of the Strait of Hormuz, and the lifting of the US blockade on Iran. Israel swiftly declared the agreement “non-binding”, reaffirming its intention to continue military operations in Lebanon.
