About the Egyptian Pound
The Egyptian Pound was introduced in 1836, replacing the piastre as the chief unit of currency. It has a long history, including being pegged to the British Pound Sterling for many years.
The name 'Pound' is derived from its historical peg to the British Pound Sterling. The Arabic name, 'genēh', is derived from the Guinea coin.
Interesting Facts
Ancient and Modern
Egyptian banknotes beautifully blend the country's ancient heritage with its modern identity, featuring pharaonic temples on one side and Islamic-era mosques on the other.
The Suez Canal's Impact
Revenue from the Suez Canal is a major source of foreign currency for Egypt and plays a crucial role in the stability of the Egyptian Pound.
Floating the Pound
In 2016, Egypt took the dramatic step of floating its currency, a key part of an IMF-backed economic reform program aimed at stabilizing the economy.
Historical Timeline
The Egyptian Pound is introduced.
The Pound is pegged to the British Pound Sterling.
The Pound is devalued and switched to a peg with the U.S. Dollar.
The Central Bank of Egypt floats the Pound, leading to a significant devaluation.
Denominations
Banknotes
Coins
Security Features
Quick Facts
- ISO Code
- EGP
- Symbol
- E£
- Numeric Code
- 818
- Subunit
- Piastre (1/100)
- Introduced
- 1836-01-01
Central Bank
- Name
- Central Bank of Egypt
- Headquarters
- Cairo, Egypt
- Founded
- 1961
- Current Governor
- Hassan Abdalla (since 2022)
Economic Data
- Reserve Currency Share
- 0.0%
- Forex Volume Share
- 0.0%
- Inflation Rate
- 32.5%
- Interest Rate
- 27.25%
Exchange Rates
What Affects the EGP Exchange Rate?
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