Currency Information on Egyptian Pound - EGP— Egyptian Pound – E£ or ج.م
The Egyptian pound replaced the Egyptian piastre in 1834, at a ratio of 100 piastres to 1 pound, meaning that the piastre became a subdivision of the pound. The piastre was equal to 40para, but the para soon stopped being issued due to being unnecessary.
The Egyptian pound uses the ‘£’ symbol for simplicity, as well as the Egyptian symbol ‘ج.م’, when the pound symbol is used, it is prefixed with an ‘E’ to differentiate it from other currencies using the same symbol, such as GBP.
There are currently three denominations of coins available, these are 25pt, 50pt and £1. Banknotes are available in denominations of £5, £10, £20, £50, £100 and £200.
I run a local delicatessen business in Surrey. Many of my artisan suppliers are based in Italy, Spain and France. We are always making payments to these suppliers and knowing we are getting the best rates is vitally important for us; our margins are tight and any savings are crucial for the success of our business.
Comment written by Artisan supplier based in Italy.
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