The currency of Egypt is the Egyptian pound, abbreviated EGP and written locally as E£ or ج.م. As of 2026, roughly 50 Egyptian pounds equal one US dollar, and the pound is the only legal tender across the country. It is issued and managed by the Central Bank of Egypt, which controls both the printing of banknotes and the nation's monetary policy.
The Egyptian Pound at a Glance
The Egyptian pound (often shortened to "guinea" in everyday Arabic speech, from the English "guinea") has served as Egypt's official money since 1834, when it replaced the Egyptian piastre as the primary unit. Each pound is divided into 100 piastres, written as "qirsh" in Arabic. Here are the essentials at a glance:
- Official name: Egyptian pound
- ISO currency code: EGP
- Symbol: E£ or ج.م
- Subunit: piastre (1 pound = 100 piastres)
- Issuing authority: Central Bank of Egypt (CBE)
Because inflation has eroded the value of small change, the piastre is now rarely seen in daily transactions. Most prices are quoted in whole pounds, and the smallest commonly used denominations are notes rather than coins.
Banknotes and Coins You Will Encounter
Egyptian banknotes are among the most visually striking in the region, deliberately pairing the country's two great cultural legacies. One face of each note typically depicts an Islamic mosque, while the reverse showcases a scene from ancient pharaonic Egypt. The text appears in Arabic on one side and English on the other, making the notes easy for visitors to read. Common denominations include:
- E£200: features the Qani-Bay Mosque
- E£100: features the Great Sphinx of Giza
- E£50: features the Abu Hurayba Mosque
- E£20: features the Mosque of Muhammad Ali
- E£10: features the Al-Rifa'i Mosque
- E£5: features the Ibn Tulun Mosque
The E£200 note, introduced in 2007, remains the highest-value note in general circulation. Egypt has also begun issuing polymer (plastic) banknotes for the E£10 and E£20 to improve durability and security. Coins exist in piastre denominations and a 1-pound coin, but in practice many vendors simply round prices to the nearest pound rather than handle coins.
A Currency Shaped by Reform
For much of the twentieth century the Egyptian pound was one of the stronger currencies in Africa and the Middle East, at times trading near parity with the British pound. That stability changed dramatically in recent years. In November 2016, as a condition of an International Monetary Fund support program, Egypt abandoned its managed exchange rate and allowed the pound to float freely. The currency lost roughly half its value almost overnight, but the move unlocked billions in international financing and helped restore foreign investor confidence.
A second wave of sharp devaluations arrived in 2022 and 2023, driven by global commodity shocks and pressure on Egypt's foreign reserves, followed by a further large adjustment in early 2024. While these changes have raised the cost of imported goods for Egyptians, they have also made the country exceptionally affordable for foreign travelers, whose dollars and euros now stretch much further than they did a decade ago.
Using Money as a Traveler
Egypt remains largely a cash-based economy, particularly in markets, local restaurants, and at temples and historic sites. While upscale hotels, airlines, and larger shops accept Visa and Mastercard, you should never rely solely on cards outside major cities. US dollars and euros are widely welcomed at tourist destinations, but you will generally get better value paying in local pounds. ATMs are plentiful in cities, resort areas, and at airports, and they typically offer fair exchange rates.
One uniquely Egyptian custom to budget for is baksheesh, the practice of tipping for nearly every small service, from a porter carrying bags to a guard pointing out a hidden corner of a tomb. Carrying a supply of small-denomination notes makes this far easier. Bargaining is also expected at bazaars such as Cairo's famous Khan el-Khalili, where the first price quoted is rarely the final one. For more on visiting the country, see our egypt country guide.
Frequently Asked Questions
What is the currency of Egypt called?
The currency is the Egyptian pound, written EGP or E£. It is divided into 100 piastres, though piastre coins are seldom used in everyday transactions today.
How many Egyptian pounds equal one US dollar?
As of 2026, one US dollar is worth approximately 50 Egyptian pounds. The exact rate fluctuates because the pound floats freely on the open market, so check a current rate before traveling.
Can I use US dollars or euros in Egypt?
Dollars and euros are accepted at many hotels, tourist sites, and larger shops, but local markets, taxis, and small restaurants expect Egyptian pounds. You will usually get better value paying in local currency.
Should I bring cash or rely on cards in Egypt?
Bring cash. Although cards work in hotels and big businesses, much of Egypt operates on cash, and small notes are essential for tipping (baksheesh) and bargaining at markets.