# CBE Governor explains reasons for Egyptian pound's historic drop against US dollar

> Central Bank of Egypt Governor Hassan Abdalla said the bank remains committed to a flexible exchange rate. The Egyptian pound closed at a record low of 55.35 per dollar in commercial bank trading, surpassing the previous peak of 54.75 reached in April. Abdalla said the moves reflect regional and global developments and urged the public not to panic.

- Date: 2026-11-05 · published 2026-11-05T18:10:33.544Z
- Category: macro · region Egypt · magnitude low
- Page: https://feedsoft.ai/events/82139-cbe-governor-explains-reasons-for-egyptian-pound-s-historic-drop-against-us
- Commodities: [Egyptian Pound (EGP per USD)](https://feedsoft.ai/c/USDEGP.md)

## Why it matters

A weaker pound raises the local-currency cost of imported feed grains and soymeal for Egyptian buyers, who are among the largest importers of wheat, corn and soy products. Currency pressure can also increase demand for dollar-priced feed ingredients.

## Read by commodity

- USDEGP: bullish ▲

## Sources

- conven.org: https://conven.org/egypt/news/cbe-governor-explains-reasons-for-egyptian-pounds-historic-drop-against-us-dollar/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.