Egyptian security forces have intensified their crackdown on illegal currency trading, seizing foreign exchange operations worth approximately 5 million Egyptian pounds in a coordinated sweep within a single day.
According to the Ministry of Interior, the Public Security Sector, in collaboration with the General Directorate for Combating Public Funds Crimes and local security directorates, successfully uncovered a series of illicit foreign currency trading schemes in the last 24 hours.
The operations targeted individuals and groups involved in the unlicensed exchange of various foreign currencies, a practice that continues to undermine the country’s financial stability by operating outside the official banking system.
These sweeping arrests are part of Egypt’s broader efforts to confront underground currency trading networks, which authorities say distort exchange rates and contribute to inflationary pressures. Officials emphasized that such practices include hoarding hard currency and engaging in speculative activities that bypass legal market mechanisms.
“This comes as part of ongoing security operations targeting illegal foreign currency trading and speculation in exchange rates, through concealing currency from circulation and trading outside the official banking sector—activities that have serious repercussions for the national economy,” the Interior Ministry said in a statement.
The clampdown underscores the government’s resolve to stabilize the financial system and protect the national economy from unauthorized currency speculation. It also signals a warning to individuals and entities engaging in such activities that enforcement actions will remain swift and unrelenting.
With economic reforms underway and increased scrutiny on black market trading, Egyptian authorities are expected to maintain their firm stance on illegal forex activity in the days ahead.
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