Energy bill pushes the Egyptian pound past 54 to the dollar

Amwal Al Ghad's 11:10 compilation on 20 October put the average dollar rate at five major banks at 54.32 pounds to buy and 54.42 to sell. The same outlet's 14 October compilation showed 52.98 and 53.08, a depreciation of roughly 2.5% in 6 days. Trading Economics recorded the rate at 54.50 on 20 October, a 1.09% loss on the previous session and 4.97% over a month. Central bank data show the dollar reached 53.18 on 14 October, its highest since 19 May; the 20 October rate is above that mark too.

The pressure comes from the energy bill. In the balance of payments for the fiscal year that closed in June 2026, the petroleum trade deficit widened 31.5% year on year. Brent has held above $100 since early October and touched $107.15 on 14 October. That same day foreign investors were net sellers of 5.8 billion pounds, about $109 million, of treasury bills on the exchange. Two analysts interviewed by Al-Manassa attribute this to regional tension, rising US yields and expectations that Egyptian rates will stay on hold through 2026.

The timing overlaps with the IMF calendar. On 15 October the IMF said the 8th and final review of the Extended Fund Facility would take place in the fourth quarter of 2026; the 7th review in July released about $1.8 billion. A 1.34-pound slide in the interbank rate over 6 days suggests the central bank is letting the price adjust rather than defending it rigidly in the run-up to the last review. As of 20 October no official statement had confirmed that reading. Amwal Al Ghad described the pound as broadly stable that day, but the six-day data say otherwise.