An FX savings account is a bank deposit held in a foreign currency — typically US dollars (USD) or euros (EUR) — rather than Egyptian pounds. The interest rate paid on FX accounts is structurally lower than what EGP accounts offer at any given moment, because EGP rates carry both a real-yield component and a depreciation premium. Investors use FX accounts to preserve purchasing power against potential EGP depreciation and to hold hard currency for international transactions or travel — not to maximise yield.
The currency risk works both ways: if the EGP depreciates against the USD, your USD deposit gains value in EGP terms. If the EGP strengthens, your USD deposit loses relative value. FX accounts are not a primary return-seeking vehicle when the EGP is stable; they're a hedge.