Latest news and articles about exchange rate from NEX English
The dollar exchange rate in Egyptian banks has shown notable stability today, May 8, 2026, reaching 30.50 Egyptian pounds. This comes amid the current economic conditions in the country that necessitate close monitoring of exchange rate fluctuations.
The Iranian rial has reached a record low of 1.81 million rials per dollar, reflecting a significant decline of 15% over the past two days. This sharp drop raises concerns about the economic situation in Iran.
Veliollah Seif, former governor of the Central Bank of Iran, warns that mismanagement of exchange rate policy could hinder reconstruction efforts in the country. He emphasizes the need for a true floating exchange rate system to ensure the stability of the Iranian economy.
Ziad Bahaa El-Din emphasized that the Central Bank of Egypt has skillfully managed the exchange rate and the outflow of hot money, reflecting high performance in managing the national economy.
On Sunday, March 29, 2026, the Saudi Riyal reached a new record high against the Egyptian Pound in banks, trading at 8.50 EGP. This increase reflects current economic changes and raises questions about its impact on the local economy.
The International Monetary Fund confirmed that the Central Bank of Egypt has refrained from direct intervention in the exchange rate, marking a new direction in Egyptian monetary policy. This decision comes at a critical time for the Egyptian economy, which is facing significant challenges.