Egypt Introduces 10-pound Polymer Currency

The Central Bank of Egypt (CBE) decided to introduce the 10-pound polymer currency, which was produced using the latest banknote production lines applied in the world in the new printing house in the Administrative Capital.

The bank will continue to use previous issues of the same category, and the continuation of its work and circulation, in In light of the keenness to keep pace with the latest global and technological measurements in securing and printing the currency in circulation.

The introduction of the new currency comes within the framework of implementing the clean monetary policy and raising the quality rates of banknotes in circulation in the Egyptian market, in addition to reducing the cost of printing banknotes, especially the most frequently traded categories, in the long run due to the longevity of this kind of plastic money, in line with the sustainable development programs adopted by the state through Egypt Vision 2030.

The bank said, in a statement, that the new ten-pound denomination was designed with a modern and innovative character, as it is adorned with the Al-Fattah Al-Alim Mosque as one of the landmarks of the Islamic architectural styles in the new administrative capital, as well as the Pharaonic civilization represented in the statue of Hatshepsut, which reflects the identity of the ancient Egyptian state.

An official source at the central bank revealed that about EGP 2 billion of the new polymer currency have been printed so far, and put in banks as of today, so that it will be made available to citizens on the occasion of the blessed Eid Al-Adha.

The source said, in statements to the Middle East News Agency, that modifications were made to the automated teller machines (ATMs) scattered throughout the country in order to be able to accept the withdrawal and deposit of the new plastic currency.