CCMBR

Here is a detailed report about the official currency of Egypt, in International English:

Historical Report on the Currency of Egypt: The Egyptian Pound

The Egyptian pound was officially established in 1834 during the reign of Muhammad Ali Pasha, replacing the Ottoman qirsh as the main monetary unit.
Initially, the pound was based on a bimetallic standard, backed by gold and silver. One pound was approximately equal to 8.5 grams of gold.
The National Bank of Egypt issued the first banknotes on April 3, 1899.
During the British colonial period, the Egyptian pound was pegged to the British pound sterling at a rate of about 0.9 Egyptian pounds per 1 pound sterling.
After World War II, the pound was linked to the US dollar, with various exchange rate adjustments over time.
In 1961, the Central Bank of Egypt was established, taking over currency issuance and regulation.
The exchange rate regime shifted to a partial floating system in 1989 and to a full floating system in 2003.

Current banknotes feature images of ancient Egyptian monuments on the English side, and mosques and Islamic symbols on the Arabic side.
The coins and notes reflect Egypt’s rich cultural and historical heritage, highlighting its significance in world civilization.

The Egyptian pound is a relatively stable currency, widely used in domestic and international trade.
The Central Bank of Egypt implements policies to control inflation and maintain monetary stability.
The currency is freely traded on the foreign exchange market, with fluctuations reflecting global and local economic conditions.

The Egyptian pound is one of the oldest currencies still in use in Africa and the Arab world.
The currency has strong historical ties to Egypt’s Pharaonic, Greco-Roman, Islamic, and modern periods.