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Egyptian pound
Egypt officially uses the Egyptian pound as the local currency. The pound is divided into 100 piastres.
Currency regime
The Egyptian currency officially floats against the US dollar, although it is still the case that the authorities tend to intervene to control the exchange rate and the market rate is still fairly heavily regulated. The government has also found it difficult to curb the black market during 2004 and the pound was around 5% weaker on the black market. The Egyptian currency has, however, strengthened since early 2005.
Commercial rates
On July 11 2007, the Egyptian pound was trading at around 5.70 against the US dollar and 11.60 against Sterling
Tourist rates
On July 11 2007 the Egyptian pound was valued at around 10.25 against Sterling. For 1 UK pound you will, therefore, receive around 10.25 Egyptian pounds.
Travellers cheques are preferred in US dollars or UK Sterling.
Buy your holiday and travel currency - Buy online securely with extra convenience and get better tourist rates than at the banks.