Egypt Pound and Piastre Banknotes

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The information about Egypt.

Egypt is a transcontinental country, it extended from northeast of Africa to southwest of Asia. Its famous heartland is the Nile River which is approximately about 4 130 miles. It played a main role in establishing the civilization of the ancient Middle East. The area of Egypt is 390, 121 square miles, with just only 0.6% of water. Its capital and also the largest city is Cairo. Its official language is Arabic, its national language is Egyptian Arabic. Egypt has one of the longest histories in the world. Its earliest act was discovered in the 6th-4th millennia BCE.

Egypt also was recognized for the development of writing, religion, culture, and the very first government.

The history of the Egyptian pound.

The Egyptian pound is the official currency in Egypt at present with EGP is the currency code. It is frequently abbreviated to LE or L.E. it can also be divided into 100 piastres (the notes smaller than 1 pound are called Piastres).

In 1834, the LE was found to replace the old Egyptian Pierre. Its appearance fixed the rate bimetallic standard of gold or silver as legal tender. Firstly, it depended on the gold and silver bi-metal standard and then switched to the British Pound sterling (GBP). In 1962, the Central Bank of Egypt was found, Egypt changed its standard to the US dollar. However, it was devalued in 1973 and luckily had a floating exchange rate after relying on itself.

In 1952, the pound notes were in circulation were themed with religious images on the facade and Egypt’s ancient pieces on the reverse. As a result, there were a bunch of creations that had a similar concept. The 5-pound note features focus on Islamic images and their powers. Same as the 10-pound note, with a mosque in the front and a pharaoh in the back.

The piastre notes were decorated particularly with an image of the mosque in the front and a symbol of nationalistic in the back. The 1978 25 piastre notes had a mosque as it was supposed to be and the Egyptian coat of arms on the reserved side including its important agriculture such as corn, cotton, and wheat.

For 2 decades, the features on Egyptian banknotes were not changed much. However, more colors and textures were added to improve the security of the banknotes.

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