Egyptian Pounds (EGP)

The Egyptian Pound (EGP) is the official currency of Egypt. It is issued and regulated by the Central Bank of Egypt. The currency symbol for the Egyptian Pound is “ج.م” or “E£”.

The Egyptian Pound was established in 1834 to be used as the official currency in Egypt. It is available in various denominations of banknotes and coins. Banknotes are commonly issued in denominations of 5, 10, 20, 50, 100, 200, and 500 Egyptian Pounds, while coins are available in 25 and 50 piastres, as well as 1, 5, 10, and 20 Egyptian Pounds.

The Egyptian Pound plays a significant role in the Egyptian economy. It is widely used in sectors such as tourism, agriculture, construction, textiles, and energy. Additionally, it is commonly used in Egypt’s foreign trade.

The value of the Egyptian Pound can fluctuate against other currencies. The exchange rate is managed through a foreign exchange regime determined by the Central Bank of Egypt. The value of the Egyptian Pound can be influenced by factors such as foreign trade, tourism, foreign investments, and other economic factors.

In conclusion, the Egyptian Pound (EGP) is the official currency of Egypt and is widely used in the country’s economic activities. Its value can fluctuate against other currencies and is regulated by the Central Bank of Egypt.