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Encyclopedia > Egyptian pound
Egyptian pound
جنيه مصري (Arabic)
Reverse of 1 Egyptian pound Obverse of 100 Egyptian pound
ISO 4217 Code EGP
User(s) Egypt
Inflation 6.5%
Source The World Factbook, 2006 est.
Subunit
1/100 piastre
1/1000 millieme
Symbol £, LE, or ج.م
piastre Pt.
Coins 5, 10, 20, 25, 50 piasters, 1 pound
Banknotes 5, 10, 25, 50 piastres
1, 5, 10, 20, 50, 100, 200 pounds [1]
Central bank Central Bank of Egypt
Website www.cbe.org.eg

The Egyptian pound, known in Arabic as the gunaih (el-Gunaih el-Maṣrī الجنيه المصرى) is the currency of Egypt. It is divided into 100 qirsh (قرش) (piastres), or 1000 malleem (مليم) (milliemes). Image File history File links Egyptian_pound. ... Image File history File links Download high-resolution version (992x422, 545 KB) Owner: Hussein Allam. ... A 100 piastre note from French Indochina, circa 1954. ... A 100 piastre note from French Indochina, circa 1954. ... This is the article for Egypts central bank; for Bank of Egypt please see Banque Misr The Central Bank of Egypt is the central bank of Egypt. ... A 100 piastre note from French Indochina, circa 1954. ...


The ISO 4217 code is EGP. Locally, the abbreviation LE or L.E., which stands for livre égyptienne (French for Egyptian pound) is frequently used. and £E are also much less-frequently used. The Egyptian Arabic name, gunaih, may be related to the English name guinea. ISO 4217 is the international standard describing three letter codes (also known as the currency code) to define the names of currencies established by the International Organization for Standardization (ISO). ... Egyptian Arabic (MarÄ« مصري) is part of the Arabic macrolanguage of the Semitic branch of the Afro-Asiatic language family. ... The English language is a West Germanic language that originates in England. ...

Contents

History

In 1834, a Royal Decree promulgating a Parliamentary Bill was issued providing for the issuing of an Egyptian currency based on a bimetallic base. In 1836 the Egyptian pound was minted and put into circulation. Year 1834 (MDCCCXXXIV) was a common year starting on Wednesday (link will display the full calendar) of the Gregorian Calendar (or a common year starting on Monday of the 12-day slower Julian calendar). ... The 1 euro coin is bi-metallic: the inner part of cupronickel, the outer part of nickel brass Bi-metallic coins are coins consisting of more than one metal or alloy, generally arranged with an outer ring around a contrasting center. ... Year 1836 (MDCCCXXXVI) was a leap year starting on Friday (link will display the full calendar) of the Gregorian Calendar (or a leap year starting on Wednesday of the 12-day slower Julian calendar). ...


The pound was originally divided into 100 piastres, each of 40 para. In 1885, the para ceased to be issued and the piastre was divided into tenths (عشرالقرش oshr al-qirsh). These tenths were renamed milliemes in 1916.


The legal exchange rates were fixed by force of law for important foreign currencies which became acceptable in the settlement of internal transactions. Eventually this led to Egypt using a de facto gold standard. (1885-1914) The gold standard is a monetary system in which the standard economic unit of account is a fixed weight of gold. ...


The National Bank of Egypt issued banknotes for the first time on 3 April 1899. The Central Bank of Egypt and the National Bank of Egypt were unified into the Central Bank of Egypt. 1898 Sir Earnest Cassel (50% ownership), Ralph Isaac Suarez, his brothers Joseph and Felix and related parties (25%) and Constantine Salvagos of Alexandria (25%) established the National Bank of Egypt (NBE), though Cassel remained in England. ... is the 93rd day of the year (94th in leap years) in the Gregorian calendar. ... Year 1899 (MDCCCXCIX) was a common year starting on Sunday (link will display the full calendar) of the Gregorian calendar (or a common year starting on Friday [1] of the 12-day-slower Julian calendar). ... This is the article for Egypts central bank; for Bank of Egypt please see Banque Misr The Central Bank of Egypt is the central bank of Egypt. ...


Coins

25 piaster of 1993
20 piaster of 1992

Coins, even for the smallest amounts, are encountered much less frequently than notes but 5, 10, 20, and 25 piastres coins remain legal currency. The most recent 25 piastre coin is holed. Image File history File links No higher resolution available. ... Image File history File links No higher resolution available. ... Image File history File links No higher resolution available. ... Image File history File links No higher resolution available. ... This article does not cite its references or sources. ...


During late spring in 2005, plans were announced to introduce a new 200 pounds note and coins for 50 piastres and 1 pound due to high cumulative inflation.


On June 1, 2006, 50 piastres and 1 pound coins were introduced, with the equivalent banknotes to be scrapped later. The coins bear the faces of Cleopatra VII and Tutankhamun, and the 1 pound coin is bimetallic. Their availabilities are expected to gradually increase in the coming months. June 1 is the 152nd day of the year (153rd in leap years) in the Gregorian calendar. ... Year 2006 (MMVI) was a common year starting on Sunday (link displays full 2006 calendar) of the Gregorian calendar. ... // Cleopatra VII Thea Philopator (in Greek, Κλεοπάτρα Φιλοπάτωρ; January 69 BC – 12 August 30 BC) was a Hellenistic co-ruler of Egypt with her father (Ptolemy XII Auletes) and later with her brothers/husbands Ptolemy XIII and Ptolemy XIV. She later became the supreme ruler of Egypt, consummated a liaison with Gaius... Nebkheperure Lord of the forms of Re Nomen Tutankhaten Living Image of the Aten Tutankhamun Hekaiunushema Living Image of Amun, ruler of Upper Heliopolis Horus name Kanakht Tutmesut The strong bull, pleasing of birth Nebty name Neferhepusegerehtawy One of perfect laws, who pacifies the two lands[1] Wer-Ah-Amun... The 1 euro coin is bi-metallic, it is made of two different alloys: the inner part of cupronickel, the outer part of nickel brass Bi-metallic coins are coins consisting of more than one metal or alloy, generally arranged with an outer ring around a contrasting center. ...


Banknotes

Obverse and reverse of a 100 pound banknote

Banknotes worth 5, 10, 25, 50 piastres, 1, 5, 10, 20, 50, 100, and 200 pounds are currently in circulation. Notes of 25 piastres and above are issued by the Central Bank of Egypt, while 5 and 10 piastres are issued by the Ministry of Finance. The Central Bank website put the two lower valued notes under the category "coins" instead of "banknotes". All Egyptian banknotes are bilingual, with Arabic texts and Eastern Arabic numerals on the obverse and English and Hindu Arabic numerals on the reverse. Obverse designs tend to feature an Islamic building with reverse designs featuring an Ancient Egyptian building. During December 2006, it was mentioned in articles in Al Ahram and Al Akhbar newspapers that there are plans to introduce a 200 and 500 pounds notes. [citation needed] Image File history File links 100LE.jpg‎ http://www. ... Image File history File links 100LE.jpg‎ http://www. ... A £20 Bank of England banknote. ... This is the article for Egypts central bank; for Bank of Egypt please see Banque Misr The Central Bank of Egypt is the central bank of Egypt. ... The finance minister is a cabinet position in a government. ... The term bilingualism (from bi meaning two and lingua meaning language) can refer to rather different phenomena. ... Arabic ( or just ) is the largest living member of the Semitic language family in terms of speakers. ... The Eastern Arabic numerals (also called Eastern Arabic numerals, Arabic-Indic numerals, Arabic Eastern Numerals) are the symbols (glyphs) used to represent the Hindu-Arabic numeral system in conjunction with the Arabic alphabet in Egypt, Iran, Pakistan and parts of India, and also in the no longer used Ottoman Turkish... The English language is a West Germanic language that originates in England. ... Arabic numerals (also called Hindu numerals or Hindu-Arabic numerals) are by far the most common form of symbolism used to represent numbers. ... For people named Islam, see Islam (name). ... Khafres Pyramid (4th dynasty) and Great Sphinx of Giza (c. ...


Popular denominations and nomenclature

Several non-official popular names are used to refer to different values of Egyptian currency. These include Bariza /bariːza/, Ta'rifa /taʕriːfa/...etc. Different sums of EGP have special nicknames for example 1,000,000 EGP is nicknamed arnab /arnab/ which means rabbit.


Historical exchange rates

Pound Sterling

Obverse and reverse of a 25 piastres banknote
Obverse and reverse of a 50 piastres banknote

This table shows the historical value of one pound sterling in Egyptian pounds: Image File history File links Size of this preview: 560 × 600 pixelsFull resolution (774 × 829 pixel, file size: 161 KB, MIME type: image/jpeg) This image depicts a unit of currency. ... Image File history File links Size of this preview: 560 × 600 pixelsFull resolution (774 × 829 pixel, file size: 161 KB, MIME type: image/jpeg) This image depicts a unit of currency. ... Image File history File links Size of this preview: 586 × 600 pixelsFull resolution (806 × 825 pixel, file size: 135 KB, MIME type: image/jpeg) 50 piastres (Central Bank of Egipt) This image depicts a unit of currency. ... Image File history File links Size of this preview: 586 × 600 pixelsFull resolution (806 × 825 pixel, file size: 135 KB, MIME type: image/jpeg) 50 piastres (Central Bank of Egipt) This image depicts a unit of currency. ... “GBP” redirects here. ...

Date Official Rate
1885 to 1949 EGP 0.97

1885 (MDCCCLXXXV) is a common year starting on Thursday of the Gregorian calendar (or a common year starting on Saturday of the 12-day slower Julian calendar). ... 1949 (MCMXLIX) was a common year starting on Saturday (the link is to a full 1949 calendar). ...

US Dollar

This table shows the historical value of one U.S. dollar in Egyptian pounds: The United States dollar is the official currency of the United States. ...

Date Official Rate Date Official Rate Date Official Rate
1885 to 1939 EGP 0.20 1940 to 1949 EGP 0.25 1950 to 1967 EGP 0.36
1968 to 1978 EGP 0.40 1979 to 1988 EGP 0.60 1989 EGP 0.83
1990 EGP 1.50 1991 EGP 3.00 1992 EGP 3.33
1993 to 1998 EGP 3.39 1999 EGP 3.40 2000 EGP 3.42 to EGP 3.75
2001 EGP 3.75 to EGP 4.50 2002 EGP 4.50 to EGP 4.62 2003 EGP 4.82 to EGP 6.13
2004 EGP 6.13 to EGP 6.28 2005 to 2006 EGP 5.75 2007 EGP 5.64
Current EGP exchange rates
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1885 (MDCCCLXXXV) is a common year starting on Thursday of the Gregorian calendar (or a common year starting on Saturday of the 12-day slower Julian calendar). ... Year 1939 (MCMXXXIX) was a common year starting on Sunday (link will display the full calendar) of the Gregorian calendar. ... This article or section does not cite any references or sources. ... 1949 (MCMXLIX) was a common year starting on Saturday (the link is to a full 1949 calendar). ... Year 1950 (MCML) was a common year starting on Sunday (link will display the full calendar) of the Gregorian calendar. ... Year 1967 (MCMLXVII) was a common year starting on Sunday (link will display full calendar) of the 1967 Gregorian calendar. ... Year 1968 (MCMLXVIII) was a leap year starting on Monday (link will display full calendar) of the 1968 Gregorian calendar. ... Year 1978 (MCMLXXVIII) was a common year starting on Sunday (link displays the 1978 Gregorian calendar). ... Also: 1979 by Smashing Pumpkins. ... Year 1988 (MCMLXXXVIII) was a leap year starting on Friday (link displays 1988 Gregorian calendar). ... Year 1989 (MCMLXXXIX) was a common year starting on Sunday (link displays 1989 Gregorian calendar). ... Year 1990 (MCMXC) was a common year starting on Monday (link displays the 1990 Gregorian calendar). ... Year 1991 (MCMXCI) was a common year starting on Tuesday (link will display the 1991 Gregorian calendar). ... Year 1992 (MCMXCII) was a leap year starting on Wednesday (link will display full 1992 Gregorian calendar). ... Year 1993 (MCMXCIII) was a common year starting on Friday (link will display full 1993 Gregorian calendar). ... Year 1998 (MCMXCVIII) was a common year starting on Thursday (link will display full 1998 Gregorian calendar). ... Year 1999 (MCMXCIX) was a common year starting on Friday (link will display full 1999 Gregorian calendar). ... 2000 (MM) was a leap year starting on Saturday of the Gregorian calendar. ... Year 2001 (MMI) was a common year starting on Monday (link displays the 2001 Gregorian calendar). ... Also see: 2002 (number). ... Year 2003 (MMIII) was a common year starting on Wednesday (link displays 2003 calendar) of the Gregorian calendar. ... Year 2004 (MMIV) was a leap year starting on Thursday of the Gregorian calendar. ... Year 2005 (MMV) was a common year starting on Saturday (link displays full calendar) of the Gregorian calendar. ... Year 2006 (MMVI) was a common year starting on Sunday (link displays full 2006 calendar) of the Gregorian calendar. ... Year 2007 (MMVII) is the current year, a common year starting on Monday of the Gregorian calendar and the AD/CE era. ...

See also

A series of International Monetary Fund arrangements, coupled with massive external debt relief resulting from Egypts participation in the Gulf War coalition, helped Egypt improve its macroeconomic performance during the 1990s. ...

References

  1. ^ http://www.nachthund.biz/CatalogUpdate/Egypt/EgyptIndex.html accessed 24/04/2007

External link

  • Don's World Coin Gallery - Egypt
  • Ron Wise's World Paper Money - Egypt Mirror site
  • Tables of Modern Monetary Systems by Kurt Schuler - Egypt Mirror site
  • The Global History of Currencies - Egypt
  • Global Financial Data data series - Egypt Pound
  • Global Financial Data currency histories table ( Microsoft Excel format)
  • History of the Egyptian pound

  Results from FactBites:
 
Egypt - Wikipedia, the free encyclopedia (3720 words)
Finally, the Egyptian Republic was declared on 18 June 1953 with General Muhammad Naguib as the first President of the Republic.
Despite these differences, the bulk of modern Egyptians are more closely related to one another and are descended from ancient Egyptian society, which has always been rural and quite populous compared to neighboring regions [1], [2].
Egypt's important role in geopolitics stems from its strategic position: a transcontinental nation, it possesses a land bridge (the Isthmus of Suez) between Africa and Asia, which in turn is traversed by a navigable waterway (the Suez Canal) that connects the Mediterranean Sea with the Indian Ocean via the Red Sea.
Egyptian pound - definition of Egyptian pound in Encyclopedia (143 words)
In 1834, a Decree was promulgated providing for issuing an Egyptian currency based on a bimetallic base.
In 1836 the Egyptian pound was minted and put into circulation.
The legal exchange rates were fixed by force of law for important foreign currencies which became acceptable in the settlement of internal transactions.
  More results at FactBites »

 
 

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