Currency profile
Egyptian Pound (EGP)
The Egyptian pound (EGP) is the official currency of Egypt, divided into 100 piastres. After years of a managed peg, it has moved toward a more flexible exchange rate through a series of devaluations, and Egypt is a large remittance-receiving country.
The Egyptian Pound today
Mid-market · updating…
The pound has moved from a managed peg toward a more flexible, market-set rate after major devaluations in 2016 and 2022–2024.
Exchange-rate regime
Moving toward a flexible float. The pound was closely managed against the US dollar, then sharply devalued and floated in November 2016, with further large devaluations in 2022 and 2024 as Egypt moved toward a more flexible, market-set rate under IMF programs.
The issuing central bank
The Central Bank of Egypt issues the pound and sets exchange-rate policy, in recent years within IMF-supported programs.
History
- 1961The Central Bank of Egypt was established in its modern form.
- 2016On 3 November 2016 the Central Bank of Egypt floated the pound, which depreciated by roughly half against the US dollar.
- 2022The pound was devalued sharply again amid external pressure.
- 2024A further large devaluation moved Egypt toward a more flexible exchange rate under an IMF program.
Coins and banknotes
One pound is divided into 100 piastres. Coins: 25 and 50 piastres and 1 pound. Banknotes: 5, 10, 20, 50, 100 and 200 pounds, issued by the Central Bank of Egypt.
Popular Egyptian Pound pairs
What moves it
- The pound is moving toward a flexible float; Central Bank of Egypt policy and IMF programs are the main drivers.
- Remittances and tourism are major sources of foreign currency (World Bank).
Structural facts reviewed 2 August 2026 · reviewed quarterly. Sources: Central Bank of Egypt · International Monetary Fund · World Bank. Live rates are mid-market — see our Methodology and Editorial Policy.