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Hence the Egyptian and Turkish units split from each other in value, with the Egyptian unit continuing its exchange value of 97.5 piastres to the pound sterling. In 1885, Egypt went into a purely gold standard , and the Egyptian pound unit, known as the juneih , was introduced at E£1 = 7.4375 grammes of fine gold.
In 1836, the Egyptian pound was first introduced and it became open for public use. [4] The bank floated the Egyptian pound during the morning of the 13th of November 2016. [5] [6] Financial reserves of the Egyptian pound stood at 2.24 trillion in December 2024. [7]
Change in per capita GDP of Egypt, 1820–2018. Figures are inflation-adjusted to 2011 International dollars. From the 1850s until the 1930s, Egypt's economy was heavily reliant on long-staple cotton, introduced in the mid-1820s during the reign of Muhammad Ali (1805–49) and made possible by the switch from basin irrigation to perennial, modern irrigation. [25]
The pound is divided into 100 piastres. The approximate official exchange rate for US$1 is E£49.57 as of November 2024. The Central Bank of Egypt controls the circulation of currency. As of May 2009, the currency notes in circulation have denominations of E£200, E£100, E£50, E£20, E£10, E£5, E£1 and 50 PT. and 25 PT. [32]
Investopedia' Egyptian Pound article is poor. It begins The Egyptian Pound (EGP) is the official currency of the Arab Republic of Egypt, as designated by ISO 4217, the International Standard for currency codes, as if it's the ISO that designates currencies as official. The Egyptian pound's symbol is E£.
The Egyptian pound was subdivided into 100 piastres (Arabic: قروش, singular qirsh, قرش, English: piastre, abbreviation: PT). The piastre used to be subdivided into 40 para, but decimalisation following the 1886 Egyptian currency reform established a 1 ⁄ 10 PT, which came to be known as a millim (abbreviated to mm/mms in Sudan ...
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According to a different source, investment was much lower at 4 billion Egyptian Pounds (US$650 million) in 2011 and 3 billion Egyptian Pounds (US$490 million) in 2012. [65] The National Master Plan for Water Supply and Sanitation conservatively estimates the investment needs for the 30 years after 2007 at about Euro 20bn, out of which almost ...