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EGP (Egyptian Pound)

Discussion in 'Traders Glossary' started by GlossaryEditor, Aug 15, 2015.

  1. GlossaryEditor

    GlossaryEditor Glossary Editor

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    EGP is the ISO code for the Egyptian Pound. The symbol for the pound is LE,*L.E or ج.م .The Egyptian pound is subdivided into 100 piastre, also known as qirsh. It can also be subdivided into 1,000 milliemes. The pound was introduced in 1834, at which time it was on the gold standard. After that, it was connected to the British pound, and since 1962 the Egyptian pound has been pegged to the United States dollar.

    Currently circulating coins include 25 piastre, 50 piastre, and 1 pound. Currently circulating banknotes are 5, 10, 20, 50, 100, and 200 pounds.
     

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