When planning a trip to Egypt, it is essential to be familiar with the local currency to ensure a smooth and hassle-free experience. So, what currency is used in Egypt? Let’s uncover the mystery of Egyptian currency in this comprehensive guide.

Egyptian Pound (EGP): The Official Currency

The official currency of Egypt is the Egyptian Pound, commonly abbreviated as EGP. The Egyptian Pound has been the nation’s official currency since 1834 and is widely accepted throughout the country.

It is important to note that the Egyptian Pound is not to be confused with the British Pound Sterling (GBP). Although their names are similar, they have entirely different values and are separate currencies.

How is the Egyptian Pound Denoted?

The Egyptian Pound is denoted by the symbol “£” followed by the currency code “EGP.” For example, if the exchange rate for USD to EGP is 15.75, it would be written as $1 = £15.75 (EGP).

Coins and Banknotes

The Egyptian Pound is available in both coins and banknotes. The coins are available in denominations of 25 piasters (equivalent to 0.25 EGP), 50 piasters (0.5 EGP), 1 EGP, and 2 EGP. Banknotes are available in denominations of 5 EGP, 10 EGP, 20 EGP, 50 EGP, 100 EGP, 200 EGP, and 500 EGP.

It is advisable to carry smaller denominations, such as coins and 5 to 20 EGP banknotes, for everyday expenses. Larger banknotes can be useful for larger purchases or emergencies.

Exchange Rates and Currency Conversion

The exchange rate between the Egyptian Pound (EGP) and other currencies fluctuates and can differ depending on exchange bureaus, banks, or the method used for currency conversion. It is advisable to check the current exchange rates before arriving in Egypt or consult a reliable foreign exchange service.

Many airports, banks, and hotels in Egypt have currency exchange facilities. However, exchanging money at these places might involve additional charges or less favorable exchange rates. It is recommended to compare rates and fees before exchanging currency.

Acceptance of Foreign Currency

While the official currency is the Egyptian Pound, some businesses and larger establishments in tourist areas may accept major foreign currencies, such as the United States Dollar (USD) or the Euro (EUR). However, it is always advisable to carry Egyptian Pound for day-to-day expenses to avoid any inconvenience.

ATMs and Credit Cards

ATMs are widely available throughout Egypt, especially in major cities and tourist areas. Visa and Mastercard are commonly accepted in most establishments, including hotels, restaurants, and shops. Nevertheless, it is always wise to carry some cash for situations where card payments might not be possible.

Now that you know the answer to the question, “What currency is used in Egypt?” you can confidently travel to this vibrant country with a good understanding of the Egyptian Pound. Remember to familiarize yourself with the current exchange rates, carry smaller denominations for daily expenses, and keep some cash handy. Enjoy your trip to Egypt!

Quest'articolo è stato scritto a titolo esclusivamente informativo e di divulgazione. Per esso non è possibile garantire che sia esente da errori o inesattezze, per cui l’amministratore di questo Sito non assume alcuna responsabilità come indicato nelle note legali pubblicate in Termini e Condizioni
Quanto è stato utile questo articolo?
0Vota per primo questo articolo!