Egyptian Pound (EGP)

Basic Concepts of the Egyptian Pound

The Egyptian pound is the official currency of Egypt, issued and managed by the Central Bank of Egypt, with the international standard code EGP and the common symbol E£ or ج. م.

Countries and regions of use

The Egyptian Pound is the only legal tender in Egypt and is used in all transactions throughout the country.

Currency Units and Denominations

1 Egyptian pound is equal to 100 piastres. Banknotes come in denominations of 5, 10, 20, 50, 100 and 200 pounds, while coins come in denominations of 25, 50 piastres and 1 pound.

Historical Background

The Egyptian pound first came into circulation in 1836 and was initially pegged to gold. After the gold standard, the British pound peg and other stages, and now adopts a floating exchange rate system, the evolution of its value reflects the development of the Egyptian economy.