Information about currency: Egyptian Pound
|Currency name||Egyptian Pound|
1 Pound = 100 Piastres = 1000 Millimes
The Egyptian pound (Arabic: جنيه مصري sign: E£ or ج.م; customary abbreviation LE; code: EGP) is the currency of Egypt. It is divided into 100 piastres, or ersh (قرش; plural قروش), or 1,000 millimes (Arabic: مليم; French: Millime).
In 1834, a Khedival Decree was issued providing for the issuing of an Egyptian currency based on a bimetallic base, i.e.: based on gold and silver. The Egyptian pound, known as the geneih, was introduced, replacing the Egyptian piastre (ersh) as the chief unit of currency. The piastre continued to circulate as 1⁄100 of a pound, with the piastre subdivided into 40 para. In 1885, the para ceased to be issued, and the piastre was divided into tenths (عشر القرش 'oshr el-ersh). These tenths were renamed milliemes (malleem) in 1916.
The Egyptian pound was also used in Anglo-Egyptian Sudan between 1899 and 1956, and Cyrenaica when it was under British occupation and later an independent emirate between 1942 and 1951.
The National Bank of Egypt issued banknotes for the first time on 3 April 1899. The Central Bank of Egypt and the National Bank of Egypt were unified into the Central Bank of Egypt in 1961.