EGP - Egyptian Pound

The Central Bank of Egypt (CBE) serves as the country's monetary authority, responsible for issuing banknotes, regulating the banking sector, and managing monetary policy. The CBE took over from the National Bank of Egypt on January 1, 1961 — the National Bank had been printing notes since 1899. Egypt currently operates under a flexible exchange rate regime, meaning the CBE allows the pound's value to respond to market forces while retaining tools to maintain stability. When sending money to Egypt, exchange rates shift day by day based on market dynamics.

The Egyptian Pound traces its roots to 1834, when a decree established a new currency based on gold and silver (with the Maria Theresa thaler as reference). Paper money didn't arrive until April 3, 1899 — the day the National Bank of Egypt issued its first banknotes. From 1885 to 1914, Egypt operated on a gold standard where one pound equaled 7.4375 grams of pure gold. The currency was later pegged to the British Pound sterling, then the US Dollar, before transitioning to a flexible regime on November 3, 2016 — a shift that saw the official rate devalue by roughly one-third overnight.

The obverse (Arabic side) showcases Islamic architecture — the polymer £10 note, for instance, features the Al-Fattah Al-Aleem Mosque from Egypt's new administrative capital. The reverse (English side) features pharaonic heritage: temples, statues, and ancient inscriptions. In July 2022, Egypt introduced its first polymer plastic note (the £10), followed by a polymer £20 in June 2023 — both featuring advanced holographic security elements that mark a shift toward more durable, harder-to-counterfeit currency.

The symbol E£ combines E for Egypt with the £ used to distinguish it from other pound currencies worldwide. Locally, Egyptians use ج.م (short for جنيه مصري, meaning Egyptian pound). The abbreviation LE comes from livre égyptienne, the French term for Egyptian Pound still used in financial contexts today. The word gineih itself derives from the Guinea coin, which held roughly the same value as 100 piastres in the late 19th century — a linguistic thread connecting Egypt's modern currency to British monetary tradition.