Within the announcement of details for the new general budget for the fiscal year 2026-2027, Egypt's Minister of Finance, Ahmed Kajouk, revealed the key economic assumptions on which the budget is built, foremost among them the US dollar exchange rate and the price of a barrel of oil, alongside energy subsidy allocations.
US Dollar Exchange Rate in the New Budget The Minister of Finance explained that the budget is based on a projected exchange rate of about 47 Egyptian pounds per the US dollar, based on the average exchange rates at the time the budget was prepared. He added that the General Petroleum Corporation used a more conservative rate of 49 Egyptian pounds per the US dollar, aiming to enhance financial hedging against global market fluctuations.
He confirmed that these figures are indicative rates used only for budget calculations and are not fixed prices, as they could change up or down according to foreign exchange market movements and foreign currency flows. According to the minister, the government hopes that proceeding with the economic reform program will lead to the stabilization of the Egyptian pound against the US dollar and a reduction in inflation rates.
US Dollar Exchange Rate at the Central Bank of Egypt Today Today, Saturday, April 11, 2026, the US dollar exchange rate reached 53.25 pounds for buying and 53.39 pounds for selling, according to data from the Central Bank of Egypt, continuing to move within a stable range that reflects a state of equilibrium in the banking market, supported by monetary policies aimed at curbing fluctuations.
Major banks, led by the National Bank of Egypt, Banque Misr, Bank of Cairo, and the International Commercial Bank, recorded similar rates at 53.09 pounds for buying and 53.19 pounds for selling, a clear indicator of the stability of trading activity within the banking sector.
US Dollar Exchange Rate Forecasts for the Coming Years In a related context, a report by a subsidiary of credit rating agency Standard & Poor's revealed that the US dollar exchange rate in Egypt may end the current fiscal year at 50.2 pounds, and is then expected to rise gradually to reach 58.3 pounds by the end of the next fiscal year.
The report projects that the US dollar may continue its upward trajectory to reach 61.8 pounds by June 2028, and then rise again to around 64.5 pounds by June 2029, if current economic pressures persist.
Price of a Barrel of Oil in the Egyptian Budget Regarding the energy sector, the Minister of Finance pointed out that the government adopted a projected price of $75 per barrel of oil in the new fiscal year's budget, reflecting a more realistic approach to dealing with fluctuations in global energy markets.
Energy Support and Supply Stability Kajouk revealed that energy subsidy allocations in the new budget amounted to about 120 billion Egyptian pounds, with the largest portion directed towards supporting the electricity sector, in addition to providing financial reserves to ensure the stability of vital supplies.
Expansion in Renewable Energy The Minister of Finance confirmed that the push to expand new and renewable energy projects represents one of the main pillars of financial policy, explaining that every new gigawatt of clean energy helps to reduce pressure on resources, save foreign currency, and support economic sustainability.
