Egyptian Pound (EGP)
The Egyptian Pound is issued by the Central Bank of Egypt.
- Alphabetic code
- EGP
- Numeric code
- 818
- Symbol
- E£
- Minor units
- 2
- Example
- EGP 1,234.50
- Used in
- Egypt
History
- 1962 Egypt adopts an IMF-supported stabilisation programme in May, unifying the exchange rate and moving it from 35.2 to 43.5 piastres per US dollar.
- 2016 The Central Bank of Egypt floats the pound on 3 November, and the rate moves from about 8.85 to about 14.65 per US dollar on the day.
- 2024 On 6 March the Central Bank of Egypt announces that the exchange rate will be determined by market forces, and the official rate moves from about 30.9 to around 50 per US dollar.
Live exchange rates
Sources
- Hansen and Nashashibi: The devaluation of 1962 (NBER)
- Atlantic Council: floating the Egyptian pound, finally (secondary)
- IMF press release 24/69, 6 March 2024
- Egyptian Streets: Egypt devalues currency, introduces flexible exchange rate (secondary)
- Malay Mail, Reuters-based: Egypt pound loses over a third of value (secondary)