What Kind of Currency Is Used in Egypt?


Quick Answer

The main unit of currency in Egypt is the Egyptian pound. The symbol used for the Egyptian pound is E£, although the currency is also represented by the acronym EGP. As of Oct. 13, 2014, 1 Egyptian pound is valued at 0.14 U.S. dollars or 0.11 Euros.

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Full Answer

The Egyptian pound is available as a banknote in E£5, E£10, E£20, E£50, E£100 and E£200 denominations. Various denominations of coins are also available; 1 Piastre equals 1/100th of E£1. Between 1962 and 1979, the Egyptian pound was pegged to the U.S. Dollar, while before 1962, it was pegged to the British pound. The currency has been allowed to float on the open market since 1979. However, exchange rates are closely monitored and managed by the Central Bank of Egypt.

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