Unknown currency of Egypt

In Russia - ruble, shekel - in Israel, "rabbits" - in Belarus, and what is the current
Is the national currency in Egypt? Surprisingly, despite the popularity of this country with our travelers, many people can not answer this question at once.

In order to fill this small gap in knowledge a little, this article is written. In it we will talk about the history of monetary units of one of the most ancient states of the world.

The beginning of history

The country showed its 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 in two centuries appeared as a single country.

In the period of the heyday of Egyptian civilization (around 1 - 2 centuries BC) in the territory of the country, metal ingots weighing about 91 grams were considered as money. Otherwise they were called "Debens". As a material for their manufacture, gold and silver were used. The peculiarity of the deben was the possibility of dividing it into 10 equal parts. They were paid for imported goods or for purchases of household items and animals. This was the first Egyptian currency.

Economic recovery, the strengthening of the country's foreign trade relations, led to the emergence of a new monetary equivalent - uton - a copper spiral twisted in a special way. This currency of Egypt for a while was in motion along with the deben.

Surprisingly, in subsequent years, the development of the financial system is literally "frozen", and most of the economic relations are based on products of subsistence farming, exchange goods and forced labor. Probably, this is 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. Find information about what currency of Egypt took place for several centuries, until the beginning of the 19th century it turned out to be quite difficult.

Modern money

The state currency of Egypt since 1834 is the Egyptian pound, the Egyptian piastre (1 EGP or LE = 100 piastres). With respect to American banknotes, the pound of Egypt refers, as 1 $: 4,5 - 6LE. At the same time, local traders and institutions give customers the opportunity to pay off and US dollars. However, the course can change very much not in favor of the client, and you do not have to count on getting the change.

The import of foreign money into the country is not limited, but Egypt's own currency is not allowed to be imported.

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 to find an ATM or an electronic device for payment on the card will be extremely difficult.

It is better to exchange money at banks or airports, since such services do not always work in hotels, and the rate may differ significantly from the banking one. Especially, it is necessary to avoid street changers that do not abhor by any means of "honest weaning" of money from tourists.