Egypt Pound or Guineh
Egypt uses the Egyptian pound as its currency. Each Egyptian pound is then further divided into 100 qirsh (also named piastres) and into 1000 maleem (also known as millieme). However, these days the maleem are not used as coins, they exist on paper only.
The currency is issued as 5, 10, 20, 25, and 50 qirsh and 1 gineih (this is one Egyptian pound) as coins and notes are in the form of 5 and 10 qirsh as well as 1, 5, 10, 20, 50 and 100 Egyptian pounds. Recently notes worth 200 and 500 Egyptian pounds were also introduced.
The pound is denoted by the symbol £, but often with E£ used to denote it from the British Sterling pounds. The letters LE also are often used, since this stands for Livre Egyptienne which is French for Egyptian Pound.
On international markets the currency is denoted by the letters EGP.
History of the Egyptian Pound or Guineh
Egypt used to be under the control of Britain, as part of the British Empire, with Britain having taken control of Egypt in 1882. However, in 1884, the British passed a law which said that Egypt was to get a new currency, with the qirsh that was in use, being made redundant and instead a gineih was to be the currency in use. (The word gineih is similar to the English word guinea, which was a currency term used at the time, prior to the British pound decimalising).
Between 1885 and 1914, the gineih was valued according to a 'gold standard' but in 1914 the gineih was then pegged to the British pound, although Egypt switched allegiance in 1962, when it pegged the gineih to the US dollar.
Getting hold of Egyptian Pounds
There are extensive ATM facilities throughout Egypt as one may expect, since it is a major tourist destination. So the best way of getting Egyptian pounds is simply to use your credit or debit card.
Many of the larger tourist hotels will show prices in euros and US dollars and many of these will readily accept either euros or US dollars as payment. However, outside of the tourist hotels, you will find that most people will only accept Egyptian currency.
It can be difficult to exchange Egyptian pounds outside of Egypt, so before you leave, make sure that you do not have a stack of cash left. If you do, then try to visit a bank or bureau de change before you leave and exchange it there.
Credit cards are accepted but really only in tourist areas, so if you are staying somewhere that is a little off the tourist track, then you will probably have difficulty using your card: you will be expected to pay in cash.
When you are out and about, particularly in Cairo or some of the larger cities, you may be approached by street exchangers who will offer you a fantastic rate for exchanging money. Do not use these type of street exchangers, since they will probably just rip you off. They may give you old notes or notes that are counterfeit and unless you are really familiar with the currency, it is really hard to tell if you have been ripped off or not. The police will also be far from sympathetic if you have used a street exchanger and effectively you will have no legal recourse. So avoid them unless you are affluent enough not to care if someone does rip you off.
Safety Issues
Egypt is not an unfriendly place and the vast majority of people will be relatively friendly, although they tend to be a little reserved. Crime rates overall in Egypt are quite low and so it is not a country that has a lot of crime, pickpocketing does go on, particularly in very crowded area, or there may be some scams around, to try and trick tourists out of a little money. However, this is perhaps the extent of crime, since it does not extend to serious armed assault or robbery. When at the very touristy areas such as the pyramids etc just be extra vigilant and be aware that they can often be a paradise for pickpocketers.
Yet any traveller intending to visit Egypt, should check out the latest advice from their government as to whether or not it is actually safe to travel. This is because Egypt has suffered terrorist attacks in 2004, 2005 and 2006. These have had tourists as the targets, because they have been carried out in or around tourist areas, so the terrorists wished to injure or kill tourists.
The main area which has been targeted is the Sinai Peninsula and in particular the tourist areas of this region. For that reason, if you are travelling to Egypt, you may be well advised to avoid this area. If you do feel that the risk is manageable and that you do want to visit this area, then check out how safe it is before you finalise travel arrangements. You should also be extremely careful when in that area and keep your wits about you at all times. If you see any suspicious activity or any bags left unattended etc then move quickly away, but remember that some of these terrorists could well be suicide bombers and as such they are almost indistinguishable from anyone else, so it is very hard to ensure safety in an area such as this.
The border area between Gaza and Egypt is also an area that should be avoided and if you plan to cross between these two countries, you are advised that this should not be done, because the crossing is often closed and this is not an area that you would wish to be stranded in, so it is best avoided.
Finally, if there are any public demonstrations to be held when you are in Egypt, it is best to avoid the vicinity of the demonstration. You will most likely be safe, but roads may be closed off as a result of the demonstration. When large crowds are around and roads are closed off, then if there is any trouble it is very hard to escape, so you should simply be aware of this and keep clear.
However, these risks are not so great that visitors are advised to avoid travelling to the country and as stated earlier, if you check that it is safe to go there and you keep your guard up when in the country, then there is no reason to suspect that you will have anything but a very enjoyable holiday.
Using Egyptian Pounds
Despite the fact that Egypt has literally been a tourist destination for thousands of years, it remains a destination that offers exceptionally good value for money, with costs being exceptionally low. If you stay in tourist areas or resorts, then you will find that costs are significantly higher than in other parts of the country and if money is tight then it is possible to stay in smaller, more basic hotels that really will not break the bank.
One travellers tip when you got to Egypt that you should ignore at your peril, is to eat at the best places you can afford and check that they are clean, before you place your order. Food hygiene standards can be quite low in some kitchens and as a result, many holiday makers can easily acquire an upset stomach, or even worse, a parasitic infestation, which really is not a souvenir that you want to bring back home. Try to avoid the very small street vendors who may be selling food, whilst many of them may take good hygiene precautions, some may not and it is not worth the risk. It is usually a good idea to take some over the counter medicines to help you to cope with any stomach upsets, such as diahorrea or vomiting. So even if you do get a bug, you can get rid of it quite quickly.
Alcohol is widely available but tends to be not so cheap as food, since most spirits and wines are imported, which tends to push up the price of drinks.
Shopping in Egypt is an absolute must, even for those people who don't like shopping. The bazaars/markets and all the street sellers who want to tempt you to buy their wares and then when you show an interest, you have to start haggling and trying to barter, so that you each reach a price that you can agree on, whilst they tell you that they have made a loss and that you have driven such a hard bargain, that they will probably be out of business by next week, when the reality is that they have made quite a good profit and are actually very pleased. Such is shopping in Egypt!
Travellers should be aware that not haggling is considered rude and if you don't haggle, then inflation pushes up the prices. It is a ritual, it is a dance, but try to look on it like a little bit of fun. It is part of the culture and part of the holiday experience. Sometimes you may even be offered a cup of tea, or the vendor will want to hear your life story. But even then, if you do not want to buy anything, you don't have to: it really doesn't cause offence, but refusing to play the haggling game, may well do so!
Overview
The magic of Egypt is well known around the world. It is a beautiful land, steeped in ancient culture and civilisation, with the Egyptians gifting so much to the world, that they were as important as the ancient Romans and Greeks. The sights include the Temples of Narnak, the Nile, the Pyramids and the Sphinx, the most fascinating museums and so much else: the list is almost endless!
The Egyptians are rightly proud of their history and of the fact that they have played an important role in shaping the world in which we all live today and they are very generous of spirit and like to show their country to visitors. In some of the more touristy areas, people are a little less welcoming, but off the beaten track, they remain almost unaffected by the hoards of visitors who gather to see the sight, which is a real pleasure.
To find out more about the way that travellers to Egypt are viewed, visit the official Egyptian website at http://www.egypt.travel
I thought the UK was the only country to use the pound as its currency. I know this is a different form of the pound but it’s interesting to know we’re not the only ones who have it.
I wouldn’t mind visiting Egypt to see the Sphinx and the Pyramids, but I’ve heard that you can only go where the tour guides take you and you have to stay in groups. Other than that you just stay in whichever hotel complex you are in. That doesn’t seem like the best idea for a holiday for me – it’s a bit too rigid!
— Allison · Oct 13, 10:15 AM · #