Currency In Egypt

Everything You Need To Know About Currency In Egypt

November 2, 2020 Off By Sublaid

There are lots of things to think about while planning a vacation in Egypt just like the best time to have a vacation, what to pack, what to wear in Egypt, the best attractions to visit, the top things to do in Egypt, and similar items that affect the quality of the tour you are about to enjoy in Egypt and among the things that nearly all travelers think about is the currency which they should bring with them in Egypt, the accepted types of cards in Egypt, the guaranteed places to exchange money from, is it advisable to carry lots of cash with you while spending Egypt tours 2021, and similar questions which we will do our best to answer throughout our article.

The Official Currency In Egypt And Its Denominations

The main currency used in Egypt by the locals is the Egyptian pound that is made up of one hundred piastres and the smallest denominations in Egypt are the 25 & 50 piastres which are the quarter & half of a pound and they are available in coin & note forms. The majority denominations in Egypt are in the notes form including the 1, 5, 10, 20, 50, 100, and 200 pounds.

It is always a good idea to have small denominations with you while being in Egypt to give tips to the locals you receive good services from. Tipping is something traditional and normal in Egypt and you should accept it as long as you are spending your vacation in Egypt. Locals offer tourists the best services & assistance hoping that they may be able to receive some money for the services they offer.

Here are the average rates of tipping in Egypt:

  • At Cafés, you can leave from 5:10 LE
  • For the Guards at the Tourist Sites, you can leave from 5:20 LE.
  • At restaurants, if you received good services, feel free to leave 10%: 15% of the total cost as tips.
  • For your tour guide, you can give him 10 USD Per day.

How Can I Exchange Some Of My Money?

It is not highly recommended for Egypt’s visitors to hold lots of cash with them either in USD, EGP, or EGP since they have the ability to use their Credit/Debit cards wherever they are in Egypt to withdraw the amount of money they need from any ATM. The Egyptian Ministry of tourism even advises tourists not to have with them more than 5000 EGP that equals around 325 USD. For any purchases, it is highly recommended to exchange some of the money in Egyptian Pounds right upon arrival from Cairo Airport and there, you will be able to get the best exchange rates regarding the currency you have to be in the EGP.

It is recommended to have an app on your phone which shows you the latest exchange rates you can get on the day you want to exchange your money in so that you get the best exchange rates or you can just get online and open currency converters like that always show accurate exchange rates. It is also highly recommended to have a local tour guide with you in order not to face any kind of problems and to have a very flexible exchange process.

Here are some of the approximate exchange rates of the main currencies but keep in mind that they change from a day to another:

  • 1 USD = 16 EGP
  • 1 CAD = 12 EGP
  • 1 GBP = 20 EGP
  • 1 EUR = 17 EGP
  • 1 AUD = 10 EGP

Feel Free To Use Your Card To Withdraw Money

This is with no doubt, the easiest way to get some cash in Egypt from any local ATM that is available in almost all Egyptian cities like Cairo, Alexandria, Luxor, Hurghada, and Aswan where hundreds of tourists come to have different tours. Don’t let strangers assist you while withdrawing money from the ATM and you can simply ask for the assistance of the officers that you can find close to those ATMs. Another advice is not to withdraw lots of cash since the majority of ATMs allow a maximum of 2000 EGP per card to be withdrawn and don’t leave the ATM until you make sure that you have taken all of the money that came out of the machine ad that you have your card with you.

The majority types of foreign cards are acceptable in Egypt and you won’t definitely face any kind of problem while using them. It is just some shops and small stores allow only paying in cash so you should be prepared.

Bargaining In Egypt

It is something really funny in Egypt and it is about asking for a lower price than the first which was offered to you by the vendor or the seller and what makes it funny is that all sellers expect buyers to bargain in Egypt and that is why they offer a higher price in the beginning so that when you finish bargaining, you get the main price of the items but it is such a satisfactory process that always leave a happy customer. Before starting bargaining, you need first to see more shops & stores to start comparing the prices they offer so that you have an idea regarding the best price you can get for your items.

So Here Are The Most Important Tips For Successful Bargaining:

  • Tour around to have a complete idea bout prices
  • Decide how much money you want to spend on your purchases and check the most interesting things you want to buy
  • Try not to show your excitement in front of the shop owners to be able to get a good deal.
  • Don’t hesitate to say “Shukran” or thanks if you didn’t get the price you want and walk away. You are not obliged to buy from each store you enter.

As a final word, it is very important to choose a good travel agency to book any of your Egypt trips with to enjoy a safe, well-organized vacation and not to be cheated by any of the locals to have the best experience ever in a great country like Egypt and to always come whenever you get the chance.