Egyptian pound EGP

The Egyptian pound is the official currency of Egypt. One Egyptian pound is divided into 100 piasters. Banknotes are available in 5, 10, 20, 50, 100, and 200 denominations, while coins come in 1 pound and 25, 50 piasters.

History of the Egyptian Pound

The Egyptian pound was introduced in 1834. During World War I, Egypt was linked to Great Britain and became part of the Sterling Area, with an exchange rate of 1 British pound = 0.975 Egyptian pounds. Egypt remained under the British monetary system until 1961, when the national bank took over banknote issuance.

Interesting Facts About the Egyptian Pound

Different amounts of Egyptian pounds have unique nicknames. 1 pound is called a "nightingale" or "passenger," 1000 pounds is known as a "package," a million is a "rabbit," and a billion is an "elephant." These terms are often used as slang, especially by tourists.