Understanding the Egyptian currency is key to a smooth trip in Egypt. The official currency is the Egyptian Pound (EGP), also known as “L.E.” (Livre Égyptienne). Its subdivision is into 100 piastres.
Egyptian Currency and Denominations
- Banknotes: You will primarily use banknotes, which come in denominations of 5, 10, 20, 50, 100, and 200 pounds. There are also smaller notes for 25 and 50 piastres. Egyptian banknotes are colorful and feature a mix of ancient and Islamic landmarks on one side and English on the other, making them easy for tourists to identify.
- Coins: Coins are less common for tourists but are used for smaller transactions. They come in denominations of 1 pound and various piastres (25 and 50).
Cash vs. Card:
- Cash is King: While major hotels, upscale restaurants, and large stores in cities accept credit and debit cards (Visa and Mastercard), Egypt is still largely a cash-based society. Always carry cash, especially for small purchases at local markets, street food stalls, taxis, and for tipping.
- ATMs: ATMs are widely available in cities and tourist areas. They are the most convenient way to get local currency. It’s best to use ATMs located inside banks or hotels for security. Be sure to inform your bank of your travel plans to avoid any security blocks on your card. When withdrawing cash, always choose to be charged in EGP to avoid unfavorable exchange rates from dynamic currency conversion.
Exchanging Money:
- Where to Exchange: For the best rates, exchange money at banks or official currency exchange offices. While airports and hotels offer this service, their rates are often less favorable. Avoid exchanging money with individuals on the street to prevent scams.
- Tipping (Baksheesh): Tipping is a common practice in Egypt. It’s polite to tip for services rendered, and small denominations of banknotes and coins are essential for this.
By familiarizing yourself with the Egyptian Pound and having a mix of cash and cards, you’ll be well-prepared to handle transactions with confidence during your trip. To learn more about other essential aspects of your trip, check out our full Egypt Travel Guide.
