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LOCAL CURRENCY IN EGYPT

Want to know how much is your money worth in Egypt? The currency used in Egypt is called Pound.

The Egyptian Pound is issued and managed by the Central Bank of Egypt. To find out the current currency exchange rates for Pound to other major currencies of the world, click on foreign currency rates.

Egyptian Currency Information
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The currency used in Egypt is called as the Pound. This currency is denoted with the currency sign EGP, LE, E£ or ?.? and the ISO 4217 Code for the Egyptian Pound is EGP. The Pound, is the official currency of the Egypt . It is divided into 100 smaller units called Piastre (???, Qirsh).

The constitution of Egypt provides that the Egypt government shall have the power to print the Egyptian Pound and Piastre (???, Qirsh) coins to be used as a legal tender in Egypt. The Egyptian Pound bank notes and Piastre (???, Qirsh) coins are both designated as "legal tender" in payment of debts.

The Egyptian Pound bill uses the decimal system, consisting of 100 equal units.

The symbol EGP, LE, E£ or ?.?, usually written before the numerical amount, is used for the Egyptian Pound.

Currently printed bank notes denominations are 5, 10, 25, 50 Piastres 1, 5, 10, 20, 50, 100, 200 Pounds and the coins are minted in the denominations of 5, 10, 20, 20, 50 Piastres, 1 Pound .

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How Does Balance of Trade and Investment Affect the Value of the Egyptian Pound
Financial analysts regularly cite the balance of trade and investment in Egypt as the most important influence on the value of the Pound. The difference between what the Egypt exports and imports in terms of goods and services to and from other countries can be obtained from a balance of trade statement.

The balance of investment on the other hand represents the difference in exports and imports of capital. If exports from Pound exceed imports from other countries, in either the balance of trade or balance of investments, it is called a surplus. The term deficit is used when the imports into Pound exceed exports to other countries. The points below go into detail to explain on how the balance of trade and balance of investments affect the Egyptian Pound.
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