The state currency of Egypt is the Egyptian pound, which in turn is equal to 100 exchange units (piastres). In international financial practice, the monetary unit is designated as EGP. Today, there are pound banknotes in circulation in denominations of 1, 5, 10, 20, 50, 100, as well as 200 pounds. In addition, there are paper banknotes of 25 and 50 piastres. Egyptian coins are represented by 25 and 50 piastres, as well as 1 metallic pound.
“When considering Egyptian price tags, always pay attention to the currency in which the price is indicated. The cost of goods can be indicated not only in pounds (pounds, as the locals usually call them, in this case, the written designation LE is used), but also in smaller money – piastres (denoted as pt on the price tag) ”.
Exchange rates in Egypt for today
Despite the fact that the Egyptian pound cannot be classified as one of the most common world currencies, being both in Egypt and abroad, you can always find out the current exchange rates in relation to the euro, dollar and other monetary units, using the capabilities of specialized sites and financial online converters.
In the “Currencies” section of our website you will find the latest news regarding the change in the exchange rate of the Egyptian pound to major currencies (forward and backward). It should be noted that on the territory of Egypt, both the American dollar and the euro can be exchanged for local banknotes without any problems.
Currency of Egypt to the dollar
The US dollar has been and remains the most popular foreign currency in Egyptian resorts and other regions of the country. The Egyptian pound / US dollar exchange rate looked like this:
- 1 EGP = 0,6357 USD,
- 1 USD = 15.7569 EGP.
What currency to take to Egypt
As already mentioned many times, the most win-win solution would be a trip to Egypt with US dollars in your wallet or on your bank card (we recommend that you have both money on your card account and a sufficient supply of dollar cash bills). In addition, the euro exchange is quite widespread in the country, but exchange rates here will be less favorable when compared with dollars.
Is it worth changing money for a trip to Egypt
Many tourists wonder whether it is worth changing money for a trip to Egypt, whether it is necessary to buy dollars before leaving. Experts recommend doing this, since it will be much easier to exchange US dollars for Egyptian pounds in Egypt itself. You can transfer part of the money into the Egyptian pound right away, and bring part of it with you in dollars or euros.
You will need local currency – you can use it to pay in Egyptian markets, in cafes and restaurants, in small shops. Try to go shopping with small bills – locals really don’t like to give change to tourists.
Currency exchange in Egypt
Currency exchange in Egypt will not give you any problems: you can change money at exchange offices and banks, at the hotel where you are staying and even directly in the shops where you make purchases. The rate will depend on where exactly you are changing the currency. The easiest way to do this is in banking structures. Just remember that from Friday to Sunday all Egyptian banks are closed. Banks will not work on holidays either – try to follow the calendars of local religious and national holidays. Many banks work from 8.30 to 14.00 or, on the contrary, open in the evening from 6 to 9 in the evening.
Credit cards and travel checks in Egypt
Experienced tourists recommend using bank credit cards in Egypt, as well as travel checks, only in trusted places. The cards are accepted for payment in popular shops, prestigious clubs and restaurants. But during an excursion trip or a trip to the province, you can hide the map further away. The fact is that there are simply no cash registers in the outback of Egypt, and you will not pay with a card. When withdrawing cash from an ATM, you will have to pay a fairly large commission. If you have time, try to look for a bank in the city, the commission of which will suit you.
Egyptian pound to major world currencies
The Egyptian pound exchange rate against major world currencies changes almost daily. If you are planning to exchange funds, it is better to clarify the information about the course.
The Egyptian pound is the country’s official national currency. In the international list, the currency is designated EGP. Sometimes on checks, the national currency is denoted by another abbreviation – LE. Translated from French, it stands for “Egyptian livra”.
Dynamics of changes in the rate of the Egyptian pound
The Egyptian pound is a rather dynamic and variable currency. The dynamics of changes in the rate of the Egyptian pound alone was very indicative. The exchange rate in the country largely depends on the world economy, the country’s internal GDP, and the stability of the political situation.
Advice: When changing currency or getting change in Egyptian pounds, try to avoid too worn out bills. Egyptian banknotes of most denominations are very similar to each other, and it is quite difficult for an “untrained” person to distinguish them – especially if the banknotes are dilapidated.