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Countries in EGP

Currency Information on Egyptian Pound - EGP— Egyptian Pound – E£ or ج.م

Outline 



 



The official money of Egypt (EGP). The
image utilized for this EGP is just E£ or in Arabic ( ج.م). The Egyptian Pounds is
subdivided into little money division known as the qirsh or millimeters. 1 EGP
equal to 100 qirsh equal to 1000 miles. 



 



Economy 



 



- The Egyptian economies is ending up more market-orientated. 



 



- The principle businesses are metal, the tourism, chemicals,
materials, pharmaceuticals, light producers, nourishment handling,
hydrocarbons, development, and concrete. 



 



Fare items are oil and unrefined petroleum items, materials,
cotton, farming merchandise, metal items, and chemicals. 



 



Import items are wood items, energizes, chemicals, gear,
apparatus, and nourishment stuff. 



 



Joblessness in the nation is evaluated at 9.7%. 



 



The yearly GDP development is evaluated at 2.6%. 



 



History 



 



- The Egyptian Pound, otherwise called gineih, was
supplanted the Egyptians Piastre. The Piastre equal to 1/100 of a Pound. It was
subdivided into 40 sections. 



 



- In 1885, the part was removed from course, and the piastre
was separated into the tenths. In the year 1916 the tenths were then renamed millimeters. 



 



- Egypt utilized the highest quality level from the year 1885 to
1914. one EGP equal to 7.4375 grams of the gold. After the flare-up of World War I, Egypt
got into to the British Pound and was a piece of the Sterling time until 1962. 



 



Around the same time, the EGP changed over to the famous US Dollar
and was just pegged at 1 EGP = 2.3 USD. 



 



- In the year 1973,
the peg was just changed into the British Pounds once more. 



 



- In the year1989, the Pound drifted; be that as it may, the
famous Central Banks of Egypt firmly dealt with the controls of foreign trade. 



 



- In the year 2005,
the 1 Pound and 50 cakes coins were presented. 



 



- In 2009, Egypt began eliminating 1 Pound and the half-pound
notes.The Egyptian Pounds is the money of Egypt. Our money rankings demonstrate
that the most well known Egypt Pound conversion scale is the EGP to USD rate.
The cash code for Pounds is EGP, and the money image is £.You can likewise
subscribe to our cash pamphlets with day by day rates and examination, read the
XE Currency Blog, or take EGP rates in a hurry with our XE Currency Apps and
site.

The Egyptian pound replaced the Egyptian piastre in 1834, at a ratio of 100 piastres to 1 pound, meaning that the piastre became a subdivision of the pound. The piastre was equal to 40para, but the para soon stopped being issued due to being unnecessary.

The Egyptian pound uses the ‘£’ symbol for simplicity, as well as the Egyptian symbol ‘ج.م’, when the pound symbol is used, it is prefixed with an ‘E’ to differentiate it from other currencies using the same symbol, such as GBP.

There are currently three denominations of coins available, these are 25pt, 50pt and £1. Banknotes are available in denominations of £5, £10, £20, £50, £100 and £200.

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