In Russia - the ruble, the shekel - in Israel, the "bunnies" - in Belarus, and what is the current
national currency in Egypt? Surprisingly, despite the popularity of this country among our travelers, not many can answer this question right away.
In order to somewhat fill this minor gap in knowledge, this article was written. In it we will talk about the history of monetary units of one of the oldest states in the world.
The beginning of the story
The country showed the first signs of statehood in the middle of the 6th century BC, although the settlement of the territory began much earlier - in the 10th century BC It was at the dawn of the 5th century that two kingdoms were born here, which, after two centuries, appeared as a single country.
During the heyday of Egyptian civilization (c. 1 - 2 centuries BC) in the country, metal ingots weighing about 91 grams were considered as money. Otherwise they were called "Deben." As the material for their manufacture, gold and silver were used. A feature of deben was the possibility of dividing it into 10 equal parts. They paid for imported goods or for the purchase of household items and animals. This was the first Egyptian currency.
The economic recovery, the strengthening of the country's foreign trade relations, led to the emergence of a new monetary equivalent - Utena - a copper spiral twisted in a special way. This currency of Egypt was used for some time along with debens.
Surprisingly, in subsequent years, the development of the financial system is literally “frozen”, and most of the relations in the economic sphere are based on subsistence products, exchange goods, and forced labor. This is probably due to the fact that the country was alternately a colony of great empires of different eras, including its occupation and subsequent colonization by Great Britain. Finding information about what currency of Egypt took place over several centuries, up to the beginning of the 19th century, proved to be quite difficult.
Modern money
The state currency of Egypt since 1834 is the Egyptian pound, the bargaining chip of which is the Egyptian piastre (1 EGP or LE = 100 piastram). In relation to American banknotes, the pound of Egypt refers to as $ 1: 4.5 - 6LE. At the same time, local merchants and institutions provide customers with the opportunity to pay in US dollars. However, at the same time, the course may very noticeably change not in favor of the client, and you won’t have to count on getting a change.
The import of foreign money into the country is not limited, but Egypt’s own currency is prohibited for import.
Bank cards of most international systems are not prohibited and can be used, but this statement is true only for large tourist centers. On the periphery, it will be extremely difficult to find an ATM or electronic device for payment by card.
It is better to exchange money at banks or airports, since such services do not always work in hotels, and the rate can differ significantly from banking. Moreover, it is necessary to avoid street money changers who do not disdain any means of “honest weaning” of money from tourists.