What Currency Is EGP?

What Currency Is EGP? (UK Guide to Egyptian Currency)

If you're booking a trip to Egypt or reviewing international payments, you may come across the currency code EGP. It’s the official currency of Egypt and is essential to understand for budgeting, conversions, or cash handling. This guide explains what EGP stands for, where it's used, and what UK travellers need to know.

What Is EGP?

EGP is the currency code for the Egyptian pound, Egypt’s official national currency.

• Currency name: Egyptian pound

• Currency symbol: £ or E£

• ISO code: EGP

• Subunit: 1 pound = 100 piastres

Although the pound symbol (£) is used, it is not the same as the British pound (GBP). The EGP has its own valuation and is regulated by the Central Bank of Egypt.

Where Is EGP Used?

The Egyptian pound (EGP) is the only legal tender in:

• Egypt – across all regions, including Cairo, Luxor, Aswan and Red Sea resorts like Sharm El-Sheikh and Hurghada

Foreign currencies such as GBP or USD are not accepted for daily purchases, although some hotels and tour agencies may quote prices in USD or EUR.

Exchange Rate Overview

The value of EGP can fluctuate significantly due to inflation and currency devaluation. As of early 2024, rough exchange rates are:

• £1 = 55–60 EGP (approximate; check live rates before travel)

• The Egyptian pound has experienced multiple devaluations, so expect wide variations over time

How Currency Works in Egypt

• All prices are displayed in EGP

• Cash is still very common, particularly in markets and taxis

• ATMs are widely available, especially in urban and tourist areas

• Credit and debit cards are accepted in many hotels and large restaurants, but cash is preferred for most purchases

• Smaller shops, rural areas and local services may be cash-only

Tips for UK Travellers

• Use a fee-free travel debit card (Wise, Monzo, Chase, or Starling) for cash withdrawals in EGP

• Bring some GBP or USD in cash to exchange locally at authorised bureaux de change or banks for better rates

• Carry small EGP notes for tipping (baksheesh), taxis, and market haggling

• Always pay in EGP, even if quoted in USD or EUR—conversion rates will likely be less favourable

FAQs

Can I use British pounds in Egypt?
No. The Egyptian pound is the only legal currency. Some tour operators may accept GBP, but prices are always converted to EGP for final payment.

Is Egypt cash-based?
Yes. While card usage is growing, cash is still the norm, especially outside major hotels or cities.

Is it expensive in Egypt?
No. Egypt is considered very affordable for UK visitors, with low costs for food, transport and attractions—especially when paying in local currency.