EGP - Egyptian Pound
The Egyptian Pound is the currency of Egypt. Our currency rankings show that the most popular Egypt Pound exchange rate is the EGP to USD rate. The currency code for Pounds is EGP, and the currency symbol is £. Below, you'll find Egyptian Pound rates and a currency converter. You can also subscribe to our currency newsletters with daily rates and analysis, read Egyptian Pound News, or take EGP rates on the go with our XE Currency Apps and website. More info ►
Top EGP Exchange Rates
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Freq Used: £1, Pt1, Pt5, Pt10, Pt20, Pt25, Pt50
Freq Used: £1, £5, £10, £20, £50, £100, £200, Pt5, Pt10, Pt25, Pt50
Central Bank of Egypt
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Before the 19th century, locally minted coins were used in Egypt due to the absence of an official currency in the country. In 1834, a parliamentary bill issued a new currency based on a bimetallic system made up of gold and silver. This bill was executed in 1836 and the Egyptian Pound replaced the Egyptian Piastre, which had been used since Egypt was a part of the Ottoman Empire. In 1885, the bimetallic standard was replaced with the single gold standard due to fluctuations in the value of silver.
In 1898, the National Bank of Egypt was formed, and began issuing the first banknotes a year later. These notes were convertible into gold until 1914, when the Egyptian Pound adopted a fixed exchange rate to the British Pound. In 1961, the Central Bank of Egypt was formed and was given the responsibility to manage and control the national currency. A year later, Egypt left the Sterling Area and pegged its value to the US Dollar until 1989. Today, the Egyptian Pound's exchange rate fluctuates while being closely managed by the central bank.