The currencies in circulation at this time were gold sterling pounds and Egyptian banknotes convertible to gold. In , the government approved a special decree to make the Egyptian pound banknote the basic monetary unit. They then changed the basis of the national monetary system into standard paper money. In , the Central Bank started issuing banknotes in different denominations. Over the years, the need for banknotes grew due to a stronger economy and different political factors, so the Central Bank started issuing banknotes in larger denominations.
Initially, the legal exchange rates for the Egyptian pound were fixed to important foreign currencies. This became acceptable in the settlement of internal transactions. Eventually, it led to Egypt using the de facto gold standard until When World War I broke out, the Egyptian pound used a sterling peg at one pound and sixpence sterling to one Egyptian pound. Currently, it is not fixed to any currency, so exchange rates can fluctuate quite a bit. Banks update the exchange rates every day, so make sure to check the going exchange rate before you change your money.
The smaller the denomination of Egyptian pound banknotes, the smaller its physical size. Therefore, pound notes are the largest, and piaster notes are the smallest. All Egyptian notes have an Arabic face and an English face.
The Arabic side has pictures of Islamic buildings in Egypt. The English side shows ancient Egyptian motifs with engravings of figures, statues, and temples. The coins include pictures of pharaohs, pyramids, and past dynasties, including Tutankhamun, Cleopatra, and the Pyramids of Giza. The myth of King Tut is world-famous, and his is one of just a few perfectly preserved Egyptian Royal Tombs.
Cleopatra also makes a fitting face for a coin, as a strong woman able to hold a country together throughout warfare in a male-dominated society. In , for the first time in the history of Egyptian banknotes, a watermark was used in issued banknotes. Sterling FX Travel Money. NM Money Travel Money. Order online and Collect in just 60 seconds from over eurochange or NM Money branches, or order before 4pm for next day Home Delivery.
Order online and Collect in just 60 seconds from over eurochange and NM Money branches, or order before 4pm for next day Home Delivery. Collection only. The listings above are affiliated with us. First Choice Travel Money. TUI Travel Money. Compare another type of travel money.
Egyptian Pound. How to find the best Egyptian pound exchange rate. Here is how to find the best pound to Egyptian pound deal: Compare as many travel money rates as possible Look out for extra costs, like delivery fees Exchange your money in one go to get the best rate possible Do not buy Egyptian pounds from airport vendors, as it is highly unlikely they'll offer you the most competitive rates.
Enter the amount you want to order, either in pounds or Egyptian pounds. But how far will they go? A trip to Egypt is still relatively cheap, with good exchange rates on the Egyptian pound meaning your British sterling can go far. If you're heading to the beach book well in advance to get the best package deal or try a self-catering or bed-and-breakfast package. Luxury travellers The main expense in Egypt is the entry into tourist sites.
Sharm el-Sheik is more westernised than other tourist destinations and many hotels and resorts will operate closer to western prices. The safest and most comfortable way to travel is by private taxi, but naturally this is also the most expensive way to get around. The Egyptian pound is divided into piastres. Egyptian currency banknotes cover both piastres and whole pounds. The banknotes are 25 and 50 piastres, and 1, 5, 10, 20, 50, and pounds.
The coins are 5, 10, 20, 25 and 50 piastres and 1 Egyptian pound. You might hear some colloquial terms for various amounts of money. Egypt is the only country whose official currency is the Egyptian pound, but it is unofficially used in the Gaza Strip too. The easiest is to order online , which will also give you our best rates. When you do this, you can choose to pick the EGP up from any of our participating branches within our network of 11, Find your nearest branch or opt for home delivery.
Thousands of branches also offer currency services if you prefer to pop in to order your travel money. Use our branch finder and select the foreign currency option to locate branches closest to you that can help. If you order by 3pm then your currency will be ready to pick up the next working day. And if you choose delivery before 3pm, it will be sent by Royal Mail Special Delivery Guaranteed by 1pm to arrive at yours usually the next working day.
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