Currency Rate
Egyptian Pound to USD
Our Currency Rate EGP latest updates allow you to track real-time exchange rates effortlessly. By accessing and analyzing accurate and current data, you'll stay informed on the EGP. We provide comprehensive information to meet all your financial needs effectively.
Buying rate
EGP 0.010551
Selling rate
EGP0.026873
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The Egyptian pound (symbol: £ or ج.م; code: EGP) is the official currency of Egypt.
Currency Details
- Country code EG
- Symbol EGP
- ISO Code EGP
- Subunits 1 Pound = 100 Piastres
Coins
- 25 piastres
- 50 piastres
- 1 pound
Banknotes
- 5 pounds
- 10 pounds
- 20 pounds
- 50 pounds
- 100 pounds
- 200 pounds
The Egyptian Pound, commonly abbreviated as EGP, is the official currency of Egypt. Known locally as the "gineih," the EGP is symbolized as "ج.م" or "E£." Introduced in 1834, the Egyptian pound replaced the piastre and has since been the country's primary currency.
History and Background
The Egyptian Pound was introduced during the rule of Mohamed Ali of Egypt in 1834. It has undergone several reforms and changes over time to maintain economic stability.
Economic Significance
The EGP is crucial to Egypt's economy, facilitating trade, investment, and economic development. Egypt has a diverse economy, with key sectors including tourism, agriculture, manufacturing, and services. The Egyptian pound's value is influenced by various factors, including tourism revenues, remittances, and global market conditions.
Usage and Exchange
The EGP is widely accepted across Egypt for all transactions, from everyday purchases to significant business deals. For visitors and expatriates, exchanging foreign currency for Egyptian pounds is straightforward, with numerous exchange bureaus, banks, and ATMs available throughout the country. Major credit cards are also widely accepted, ensuring convenience for international travelers.
Conclusion
The Egyptian Pound is more than just a currency; it is a symbol of Egypt's rich history, cultural heritage, and economic development. Understanding the EGP is essential for anyone engaging with Egypt's dynamic economy, whether you are a resident or a visitor. The pound's stability and accessibility play a crucial role in the country's economic resilience and growth.
History and Background
The Egyptian Pound was introduced during the rule of Mohamed Ali of Egypt in 1834. It has undergone several reforms and changes over time to maintain economic stability.
Economic Significance
The EGP is crucial to Egypt's economy, facilitating trade, investment, and economic development. Egypt has a diverse economy, with key sectors including tourism, agriculture, manufacturing, and services. The Egyptian pound's value is influenced by various factors, including tourism revenues, remittances, and global market conditions.
Usage and Exchange
The EGP is widely accepted across Egypt for all transactions, from everyday purchases to significant business deals. For visitors and expatriates, exchanging foreign currency for Egyptian pounds is straightforward, with numerous exchange bureaus, banks, and ATMs available throughout the country. Major credit cards are also widely accepted, ensuring convenience for international travelers.
Conclusion
The Egyptian Pound is more than just a currency; it is a symbol of Egypt's rich history, cultural heritage, and economic development. Understanding the EGP is essential for anyone engaging with Egypt's dynamic economy, whether you are a resident or a visitor. The pound's stability and accessibility play a crucial role in the country's economic resilience and growth.