Egyptian pound

The offer is not only for tourists - at the exchange office you can buy or sell Egyptian pound banknotes. You are going to Egypt and need the currency of this country, please visit our point. Before the 19th century, Egypt used locally minted coins because no official currency had yet been created, but it was not until 1834 that a significant legislative milestone was reached with the introduction of a new currency system based on bimetallism, which included both gold and silver. Due to the instability of the value of silver, in 1885 the bimetallic standard was replaced by the gold standard. The year 1898 was a momentous turning point when the National Bank of Egypt was established, which issued the countrys first banknotes a year later. In 1962, Egypt extricated itself from the sterling zone and pegged the value of its currency to the US dollar, which remained in force until 1989. Currently, the exchange rate of the Egyptian pound fluctuates but remains under strict regulation by the central bank.