EGP

EGP refers to the Egyptian pound, the official currency of Egypt. Its ISO 4217 code is EGP, and in Arabic it is commonly written as ج.م. The pound is subdivided into 100 piastres, known in Arabic as qirsh. The Central Bank of Egypt is the monetary authority responsible for issuing banknotes and coins and for setting monetary and exchange-rate policy.

The Egyptian pound has a long history as the country’s primary unit of account and medium of exchange. In the modern era it has undergone multiple exchange-rate regimes, including both fixed and more flexible arrangements. In 2016 Egypt adopted a market-determined exchange rate, leading to a substantial depreciation of the currency. Since then, government reforms and monetary tightening have sought to stabilize inflation and improve macroeconomic balance, with the pace and success of these efforts influencing the pound’s value relative to other currencies.

In everyday use, the EGP is the standard means of payment for domestic transactions and is the currency in which prices, wages, and contracts are typically denominated. It is widely traded on international currency markets for purposes of conversion and international trade, subject to the country’s macroeconomic conditions and policy measures.

Notes and coins featuring national symbols and historical figures are issued by the Central Bank of Egypt, and currency in circulation reflects the country’s economic conditions, inflation, and monetary policy. While EGP most commonly denotes the Egyptian pound, acronyms can have other meanings in different contexts.