1 EGP to USD - Convert Egyptian Pound to US Dollar

Looking at the 30-day window, the EGP/USD pair traded in a range of 0.018500 to 0.019500. The monthly average was 0.019055 with 1.73% volatility. The relatively low volatility indicates stable trading conditions for the EGP/USD currency pair.

The current mid-market exchange rate is 1 EGP = 0.019237 USD, updated as of June 12, 2026, 5:52 AM UTC. Mid-market rates represent the fairest available rate and are the midpoint between buy and sell prices on global currency markets. Actual transaction rates from banks or money transfer services may include a markup above this rate.

Egyptian Pound to US Dollar Exchange Rate

EGP/USD shows how many dollars one Egyptian pound can buy, a number that has shrunk dramatically as the pound devalued from 15 to over 50 per dollar between 2022 and 2024. For Egyptians with dollar expenses like imported medicine, children studying abroad, or international online subscriptions, the rate determines how much of their pound income goes toward these costs.

The Suez Canal Premium

The Suez Canal is Egypt's single most valuable strategic asset, generating over $9 billion in annual toll revenue before the recent disruptions. Roughly 12-15% of global trade passes through the canal, and every ship pays tolls denominated in Special Drawing Rights (effectively tied to major currencies including the dollar). This revenue stream is Egypt's most reliable source of hard currency, second only to remittances. When Houthi attacks in the Red Sea disrupted shipping routes in late 2023, many vessels diverted around Africa, slashing canal revenue by over 40%. The impact on the pound was immediate and severe, contributing to the latest round of devaluation. The canal's vulnerability to regional security events means EGP/USD carries a geopolitical risk premium that most tourists and casual observers do not consider.

What Drives the EGP/USD Rate

Suez Canal revenue, tourism income, Gulf state investment commitments, remittances, IMF program disbursements, and foreign reserve levels are the key factors. Egypt's dependence on imported food (especially wheat as the world's largest importer) means global grain prices directly affect dollar demand. Central Bank of Egypt interest rate decisions and the gap between official and parallel market rates also drive sentiment.

What a Conversion Really Costs

Converting pounds to dollars in Egypt has been challenging during the devaluation period. Banks charge 2-5% when dollars are available. The parallel market, while smaller than before, still exists for large transactions. For Egyptians studying or receiving medical treatment abroad, the combination of a weak pound and wide conversion spreads makes dollar expenses extremely costly. Digital transfer services have limited presence in the outward direction from Egypt.

How to Get the Best EGP to USD Rate

Check the mid-market rate on this page. Bank rates for outward conversion can vary significantly, so check multiple branches. During stable periods, rates tend to normalize and availability improves. For outward transfers, licensed exchange companies sometimes offer marginally better rates than banks but availability depends on market conditions. For larger outward transfers, maintaining documentation of the source of funds speeds up the approval process at banks.