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EGYPT (EGP) EGYPTIAN POUND
The Egyptian Pound or the ginieh is the currency of Egypt and its code is EGP.
100 piastres or a 1000 malleem make up an Egyptian Pound. The Pound is
represented by the symbol £, LE or by the Arabic abbreviation while the piastre
is marked as Pt.
Currently in circulation
Coins that are considered legal tender are 5, 10, 20 and 25 piastres and 1
ginieh. The 1 ginieh bears the face of Cleopatra VII and Tutankhamen on either
faces of the coin. The Egyptian pound banknotes are bilingual with the front
Arabic part that represents a picture of a well known mosque while the reverse
which is in English depicts one of the famous monuments. They are available in
the denominations of 5, 10, 25 and 50 piastres and 1, 5, 10, 20, 50, 100 and 200
pounds. The 200 pound note is rarely seen.
Exchange facilities and traveller’s cheques
Foreign currency can be exchanged in banks, official bureaux de change and
hotels. Banks generally offer a better exchange rate as compared to the exchange
offices and hotels. All international currencies can be exchanged here.
Traveller’s cheques although not widely accepted, can also be cashed in Egypt
but if it is in US Dollars, Sterling or Euros, you can save on the extra
charges.
Using credit/debit cards
Most of the major hotels, shopping centres and restaurants in tourist areas
accept credit cards. Visa and Mastercard are the widely accepted credit and
debit cards. Credit and even debit cards can help you obtain cash advances in
banks and ATM’s. ATM’s are quite common and can easily be found at various
points in Egypt.
Restrictions
Local currency up to a 100 EGP can be taken into the country but taking out of
local currency is prohibited. There is no restriction as to the amount of
foreign currency that you can take in or out of the country provided it is
declared at the customs on arrival. You are allowed to use EGP acquired from
postal cheques to make payments for hotel bills and air tickets.
Egypt: An overview
Egypt has always been a place of fascination for tourists all over the world.
Not only because of its enchanting pyramids but also because of its remarkable
scenery, historic temples, monuments and ruins of the Egyptian civilisation.
Egypt is not an expensive place and you can get a room at a 2/3 star hotel at
100 EGP/$17.88/£12.70/Є13.54 per night. A three-course dinner at a restaurant
can cost you the same amount. A fast food meal would cost you a mere
20EGP/$3.58/£2.54/Є2.71.
