08 Jan 2025
Gain a better understanding of the Egyptian Pound, Egypt's official currency, and get educated on cash management, whether it’s okay to bring USD or Euros, and which places have the best money exchange rates. Investigate various reliable online methods of sending money to make financially smooth international transactions. Easy trips to the local shops or trading while traveling to the more popular resorts such as Sharm El Sheikh and Hurghada are made easier as this guide gives you a great understanding of the economics in Egypt.
One of the most important details to address before traveling to Egypt is to plan your finances and confirm what currency is used in Egypt. While exploring the ancient pyramids, your luxurious vacations in Sharm El Sheikh, or wandering the streets of Cairo, you need to know that the financial aspect is crucial for a smooth trip. Envision how easy it would be to perform international transactions regularly if you knew how to send money online smartly or exchange currency most conveniently. Have you ever wished to have saved yourself all the hassle and wanted to know how to manage your finances easily on a journey?
Let’s Tab Rule on Egypt and its currency system up close, how to deal with money there, and some simple hacks to sustain yourself there.
The currency in which transactions are done in Egypt is called a pound, or in local terms, it is called the Egyptian Pound, or simply EGP. The currency sub-unit amount comprises a hundred piasters and is available as coins and banknotes. The currency in Egypt is the Pound, and many people accept it. When you are about to purchase various souvenirs and delicious Egyptian food, it is essential to carry some cash currency.
You might be thinking what is the best currency for Egypt. The answer is situational, based on where the individual is and other factors. Travelers can obtain the local Egyptian currency of the country where they land without much fuss instead of sourcing it from their home country, mainly due to most countries' favorable exchange rates.
It is advisable for those traveling to places such as Sharm El Sheikh or Hurghada to learn about local currency customs. Usually, in this area, businesses will have various money collections, such as US Dollars, Euros, and British Pounds. But even with such options, the Sharm El Sheikh currency is still widely used: the Egyptian Pound.
Which type of money should you take to Egypt for an optimal experience? While US dollars, Euros, or Pounds seem reasonable to work with, it is preferable to have the local currency. This matters a lot when working with smaller suppliers, shops, or local markets where banks are not readily available and foreign currency is not used.
If you are among those currently residing in the United Kingdom, you may have had issues exchanging your currency for EA pounds. This has been due to some confines on using that particular Egyptian currency outside Egypt. It is, therefore, typical for most tourists arriving in Egypt to purchase their money or change it at the airport. You can find a forex sub-agency in most places, like international airports and hotels in Egypt. However, exchanging your money at authorized banks in Egypt or licensed foreign exchange centers would be better.
Also, you can avoid carrying cash on your trip using a trustworthy online money transfer service. It will enable you to send money safely and quickly if you need funds. “Are you traveling to Egypt from the UK and wondering what currency to take? The answer is simple: the British Pound is definitely what to consider. The exchange rate of the pound to the Egyptian pound is usually in your favor because picking up money directly upon arrival is more lucrative, as you will receive money from those on their side.
Since you are now aware of what currency Egypt used, it is important to understand how to control your funds appropriately.
Although cards are used for payment and withdrawal in some developing areas, cash remains the accepted method of payment for the majority in Egypt.
Most people in Egypt have phones nowadays, meaning that money transfer services are very useful there as they are quick. Cities like Cairo and Alexandria have it easier.
As more people have phones, scams will likely rise as well. Remember, people always check the offered rates; cash exchange rates are unpredictable.
It is recommended that you carry small denominations in your wallet, as most taxi drivers will say that they don’t have change to offer. This will save you time and effort while looking for change.
The American Dollar and Euro can be used in several locations, especially tourist centers. However, if you are traveling to remote areas, it is best to use the national currency. If you’re going on vacation to El Sheikh, Hurghada, or Cairo, the question arises: is it better to get Egyptian Pounds in Egypt? The majority of tourists think that, in most cases, it is worth it. The rates offered locally tend to be better than those available abroad.
If you wish to help your relatives, friends, or yourself with money during the trip, there are a couple of reliable options for remitting money. The ability to send money does help provide the necessitated funds without the need to carry large amounts during travel.
The most appropriate currency to carry will vary depending on where you are and the availability of exchange centers. Many UK travelers have no reservations about carrying GBP as it is easily convertible into Egyptian Pounds when they reach the country.
As for travelers from other regions, bringing a widely recognized currency like USD or EUR would be better; it is universally acceptable and will ensure you a hassle-free experience in the Egyptian land
Following is some interesting information about money in Egypt:
For those who do not know, Egyptian banknotes are decorated with images of famous authorities and places throughout the country's history and culture.
It is quite challenging to obtain Egyptian Pounds in other nations due to the strict laws regarding transferring this currency in the country.
It has been reported that many locals use coins and small denominations for tips, popularly known as “baksheesh,” a norm in Egypt.
In brief, it would be great if you would be moving around or planning for a trip with the Egypt Pound, as this is this country's official and accepted currency. I don’t think it will matter if one is visiting the great markets or planning to spend time on the Great beaches of Hurghada, Aswan, Alexandria, or other historic sites because knowing how to manage your money makes the trip easy. Of course, money transfer services can always come in handy, and money transfer is so easy nowadays as sending it via online channels does not require much effort.
Think ahead, plan ahead, exchange smartly, and enjoy more of Egypt's wonders without the slightest chance of financial problems emerging.
Egypt's official currency is the Pound, which is represented by the symbol “E£” in the international legal code ISO 4217. It is usually divided into 100 piastres. Locally, it is also called “Le” or “£E.”
In the Egyptian market, the US Dollar and the Euro can be found and are used for purchasing in shops in the tourist business market like those found in Cairo, Sharm El Sheikh, and even in some stores in Hurghada. Still, the norm remains to use pounds in markets and even in smaller towns or less developed areas.
The answer is yes; changing money in Egypt is better than using it in other countries, as the exchange rate is more favorable. Using authorized banks, exchange centers, and airports in Egypt is only advisable.
The government controls the purchase of pounds through tight policies, making it almost complicated to acquire the currency outside of Egypt. Most travelers have adopted the practice of changing their currency immediately when they land in Egypt.
Relying on a credible online money transfer system facilitates fast and secure transactions, eliminating the need to carry a lot of cash on a journey.
