• Egypt


    Africa > Egypt


    Five Egyptian Piastres (1998-99)
    Ten Egyptian Piastres (1998-2002)
    Twenty Five Egyptian Piastres (1985-99)
    Fifty Egyptian Plastres (1985) 
    One Egyptian Pound (1978)
    Ten Egyptian Pound (2000)







    Banknotes of Egypt


    In 1834, a Khedival Decree was issued providing for the issuing of an Egyptian currency based on a bimetallic base, i.e.: based on gold and silver. The Egyptian pound, known as the gineih, was introduced, replacing the Egyptian piastre (qirsh) as the chief unit of currency. The piastre continued to circulate as 1100 of a pound, with the piastre subdivided into 40 para. In 1885, the para ceased to be issued, and the piastre was divided into tenths (عشر القرش 'oshr el-qirsh). These tenths were renamed milliemes (malleem) in 1916.
    Egypt remained part of the Sterling Area until 1962, when Egypt devalued slightly and switched to a peg to the United States dollar, at a rate of EG£1 = US$2.3. . 
    The National Bank of Egypt issued banknotes for the first time on 3 April 1899. The Central Bank of Egypt and the National Bank of Egypt were unified into the Central Bank of Egypt in 1961.
    In 1899, the National Bank of Egypt introduced notes in denominations of 50 piasters, E£1, E£5, E£10, E£50 and E£100 were introduced. Between 1916 and 1917, 25 piaster notes were added, together with government currency notes for 5 and 10 piasters. Issued intermittently, the 5 and 10 piasters are today produced by the Ministry of Finance.
    All Egyptian banknotes are bilingual, with Arabic texts and Arabic-Indic numerals on the obverse, and English texts and Arabic numerals on the reverse. Obverse designs tend to feature an Islamic building with reverse designs featuring Ancient Egyptian motifs (buildings, statues and inscriptions). During December 2006, it was mentioned in articles in Al Ahram and Al Akhbar newspapers that there were plans to introduce £200 and £500 notes. As of 2007, there are £200 notes circulating in Egypt and subsequently £500 notes will start circulating. 

     

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