Is the black market for currency exchange in Egypt still relevant?

At the beginning of 2025, the black market for currency exchange in Egypt lost its former relevance, and this situation persists at the start of 2026. Previously, in 2023-2024, the rate on the black market could be almost one and a half times more favorable than the official rate. However, after the Egyptian government allowed the pound to 'float freely', the official and black markets have almost equalized.

Now, if there is any difference in the rate, it is very small. It no longer makes sense to risk your money by dealing with street money changers. Moreover, exchanging currency with private individuals in Egypt is illegal, which adds potential problems.

Offers to exchange currency 'at a good rate' may come from guides, shopkeepers, or souvenir vendors, but it is not recommended to agree to this. It is safer and almost as profitable to exchange money through ATMs or official exchange offices.

To track the current situation with exchange rates, you can check the real market rate on specialized websites, for example, egcurrency.com. We have compiled all the details and warnings in the article: Where is it better to exchange currency in Egypt.

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