Egyptian authorities have seized foreign currencies worth six million Egyptian pounds in a series of operations targeting illegal currency dealers, the Ministry of Interior announced on Saturday.
The crackdown, carried out by the Public Security Sector in coordination with the General Administration for Combating Financial Crimes and local Security Directorates, uncovered multiple cases of trading foreign currency outside the official banking system within 24 hours.
“These operations are part of an ongoing effort to combat crimes of illegal foreign currency trading and currency speculation,” a ministry statement said. “Concealing and trading foreign currencies outside the banking market undermines national economic stability.”
Illegal currency trading has been identified as a growing concern in Egypt, with authorities noting its potential to disrupt the financial system, affect exchange rates, and encourage speculative practices.
Officials emphasized that the campaign aims to safeguard the economy by ensuring that foreign currency remains within formal channels and that violations are swiftly addressed.
The Ministry of Interior has pledged continued vigilance, announcing that intensified inspections and security campaigns will continue to curb illegal trading and protect the stability of Egypt’s financial markets.
This latest seizure comes amid broader government efforts to stabilize the Egyptian pound and reinforce regulations governing foreign currency exchange, reflecting the administration’s focus on economic resilience in the face of ongoing financial challenges.
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