Dollar falls 1.48 piasters against pound after Iran-U.S. ceasefire announcement

CAIRO - 8 April 2026: The U.S. dollar declined unexpectedly against the Egyptian pound by about 1.48 piasters during midday trading compared with opening levels, marking the first market reaction to the announcement of a 15-day temporary ceasefire in the Iran-U.S. conflict, pending a final agreement through ongoing negotiations.

At the banking level, the dollar rate at the National Bank of Egypt fell to LE 53.35 for buying and LE 53.45 for selling, while at Al Baraka Bank it recorded LE 54.55 for buying and LE 54.65 for selling.

Meanwhile, the Central Bank of Egypt listed the dollar at LE 54.64 for buying and LE 54.78 for selling, while Banque Misr recorded the currency at LE 54.10 for buying and LE 54.20 for selling.

The sudden decline in the dollar was also supported by strong inflows from foreign investors into Egyptian treasury bills and bonds, reflecting renewed market confidence following the agreement between the United States and Iran to suspend hostilities for 15 days while negotiations continue toward a permanent settlement.