![]() ![]() Reliable Banks in EgyptĪs travelers, we should always trust our home banks. And you would need to bring your passport since it may be required when exchanging the local currency. The exchange rate at hotels may not be as good as at the banks. ![]() You can easily spot them in large cities, but please make sure you get enough cash before heading to a remote area, such as the desert. The most convenient and ideal way is to find a local ATM and withdraw money. Hence, exchanging after arrival would be a great idea.Īirports, local banks (including their ATMs), and large hotels are ideal places to exchange major foreign currencies (USD, EUR, GBP, etc.) in large denominations. It may be difficult for you to get Egyptian pounds in your country, and there is a limitation of bringing no more than 5,000 EGP (about USD 320) into the country, as stipulated by local authorities. This means that travelers would have to change their currency to EGP for consumption. Although some vendors and service providers may accept USD and EUR, not many people use other currencies for business. The Egyptian pound is the only official currency of Egypt. Make sure they know you are going to travel to Egypt, or your payments may be denied as protection against suspicious activity.Īlways bring some Egyptian pounds during your visit, especially when traveling outside of the large cities and for use in places like local markets, small restaurants, and vendors. Also confirm with them if your card can be used in Egypt. Please do check with your bank before visiting Egypt about the validity of your card and the potential fees. You may consider using a credit card to pay large bills. For security reasons and convenience, we recommend not carrying around a conspicuous volume of banknotes with you when traveling. It is wise to carry some Egyptian pounds with you for small purchases as most small vendors and restaurants only accept the local currency rather than USD or EUR. For coins, there are 10 piastres, 5 piastres, and 1 pound.įor ballpark calculations, consider 16 EGP to be equivalent to 1 USD, 20 EGP to 1 GBP, 17 EGP to 1 EUR, and 10 EGP to 1 AUD. The pound itself comes in paper denominations of 200, 100, 50, 20, 10, 5, and 1 pound. The most common denomination of piastres is 25 and 50 piastres, and these two denominations are available in both coin and banknote form. The smallest denomination of EGP is 5 piastres, which is hardly in circulation in the market today. The Egyptian pound is divided into 100 piastres. You can sometimes see it signified using the local character ج.م. ![]() The official currency of Egypt is the Egyptian pound (EGP, or simply E£), and the basic unit is the pound. Introduction to the Local Currency in Egypt Here we've prepared a practical guide to money and banks in Egypt, which will help you make the necessary preparations before your visit. It is handy to have prior knowledge of when and how to obtain currency, and how to use it wisely. Getting a detailed understanding of the local currency of a country can be a big headache for not just new visitors but also seasoned travelers. ![]()
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