Do You Need Cash in Egypt?

Egypt, cradle of one of the world’s most influential civilisations, is a unique destination blending thousands of years of history with breathtaking landscapes. From the Pyramids of Giza to the temples of Luxor and Karnak and the Valley of the Kings, the country boasts an incomparable historical heritage.

In addition to offering an extraordinary setting for a holiday, the cost of living in Egypt is relatively inexpensive, making it an ideal destination for travellers seeking a complete change of scenery without breaking the bank. However, it is essential to understand local payment habits in order to enjoy a smooth and stress-free stay.

In this guide, we introduce Egypt’s official currency, the Egyptian Pound, explain when cash is essential, and share practical tips to help you enjoy your trip in the best possible conditions.

 

Key Takeaways:

• The Egyptian Pound was introduced in 1836 and is divided into 100 piastres, with various coins and banknotes.
• Notes feature ancient Egyptian monuments on one side and mosques on the other; its ISO code is EGP.
• Cash is essential for taxis, tips, markets, rural areas and businesses that do not accept cards.
• It is generally best to exchange currency before travelling in order to secure a better rate and have EGP on arrival.
• Carrying small denominations and keeping your money secure makes transactions and bargaining much easier in Egypt.

 

Originally, Egypt did not have an official currency and most transactions took place through bartering. It was only in 1834 that the first gold and silver coins were formally introduced in the country. A few years later, in 1836, the Egyptian Pound was put into circulation, replacing the Ottoman currency, the qirsh.

The first Egyptian Pound banknotes were issued by the National Bank of Egypt on 3 April 1899. The ISO code for the Egyptian currency is EGP, and it is divided into 100 piastres.

In Arabic, locals refer to the pound as “guineh”, and to piastres as “’irsh”.

Egyptian banknotes are as follows:

• 25 piastres
• 50 piastres
• 1 EGP
• 5 EGP
• 10 EGP
• 20 EGP
• 50 EGP
• 100 EGP
• 200 EGP

There are also three coins:

• 25 piastres
• 50 piastres
• 1 EGP

EGP notes have one side in English and the other in Arabic. The English side typically features monuments from Ancient Egypt, while the Arabic side generally depicts mosques.

Source: Arab Republic of Egypt – Presidency

Cash remains the most widely used form of payment in Egypt, although card payments are increasingly accepted in major cities.

Although you can occasionally pay in euros or US dollars—currencies considered more stable than the EGP—it is still essential to have Egyptian Pounds in cash during your trip. You will need them for small everyday expenses such as taxi rides, tips, and minor purchases.

In other words, having Egyptian Pounds in cash gives you the flexibility you need, especially if you plan to travel beyond major urban centres.

Read also:

• How To Get Cash Before Travelling Abroad?
• How to Handle Tipping Abroad?

During your trip to Egypt, several situations will require cash payments, including:

• Most journeys by taxi, horse-drawn carriage or felucca.
• Tips, also known as bakshish, which, although “spontaneous”, are an integral part of Egyptian culture.
• Shopping in the many local markets.
• Stays in remote areas, such as small towns or villages.
• Certain establishments that simply do not accept card payments.

As you can see, you will need cash on a daily basis during your stay in Egypt.

To obtain EGP in cash for your trip, you have several options, each with its advantages and drawbacks:

• Withdrawing money from an ATM in Egypt:
  ATMs are plentiful and may seem convenient. However, the exchange rates are often unfavourable, and your bank may charge withdrawal fees. Whenever possible, avoid withdrawing large amounts on site unless absolutely necessary.
• Exchanging currency at the airport:
  You will easily find exchange offices at the airport, but the rates are generally very high. We strongly advise against using them unless you have no alternative.
• Exchanging currency before departure:
  This is the most economical and convenient solution. You benefit from better exchange rates and already have cash upon arrival, avoiding unnecessary stress and maximising your travel budget.
  With ChangeGroup, you can simply reserve your EGP online at the best rates and collect your order for free in one of our branches. For even greater convenience, home delivery is also available.

Here are a few tips to help you avoid stressful situations and make the most of your journey:

• Bargaining is very common in Egypt—another reason why having cash is so useful. It allows you to negotiate more effectively.
• Make sure you have enough cash before departure to cover initial expenses (taxis, meals, excursions, etc.).
• Always carry small denominations to make payments easier.
• As you may need to carry significant amounts of cash, use a suitable travel wallet or money belt to keep your money secure.
• If you must use an ATM, check the exchange rate and any extra fees with your bank to keep control of your budget.
• Some purchases can be made in euros or dollars, as these currencies are more stable than the EGP—having some on hand can be helpful.
• When bargaining, compare prices in several shops and never give a price first. Letting the seller speak first gives you the best chance of achieving a better price.