Egyptian currency

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May 1st, 2000, 04:09 PM
  #1
Linda
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Egyptian currency

I want to learn about the denominations of paper money and coins. I've seen the word "pietras" (not sure of spelling). Does a number of pietras equal a pound? Also, how many Egyptian pounds are in a U.S. dollar?

Do the locals prefer Egyptian money over U.S. money?

Also, what about the use of credit cards in the stores in Cairo, Luxor, and Answan?

Thanks,

Linda
 
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May 2nd, 2000, 09:12 AM
  #2
mjd
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Egyptian currency: pounds. the denominations are 1,5,10,50,100 and so on. Try to get small bills when you change money. The piasters are in 25, and 50 bills. I did not like these and always tried to get rid of them. Some use them for tips. I just returned from Egypt and I recieved around 3.42 pound to one dollar. From that you can see the piasters are worth nothing.
They do have coins, but I never saw them until I asked for one.

Egyptians like both pounds and dollars and will usually take either. However, if you pay in dollars you will for sure get a very low rate. So, try to use pounds.

Credit cards: Most places take them. Sometimes I prefered buying things with them so that if I had a problem with the item the compnay could be found and the credit card would back me up. They will charge extra when you pruchase with a credit card.

Overall, pounds are best. But carry some dollars with you along with a credit card. That way you have a choice depending on what you are buying.

Have loads of fun!
Sincerely,
MJD
 
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May 4th, 2000, 08:11 AM
  #3
Tahiti Bob
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For some reason, it's difficult for small shopkeepers or street vendors to change back dollars to get pounds (is there a huge commission fee, or is it not legal to hold foreign currencies, I don't know).
Anyway, they will make you pay for this extra work. The same item will cost you more if you pay in $ than in pounds and it will cost you more than what you pay to get egyptian pounds at a bank.
Also if you want to bargain hard, pounds are better. Egyptians have a minimum price in pounds in their mind, and they know how low they can go to make a deal.
If you bargain in dollars, it's more difficult for them to convert the price instantly and they will take less risks and their best price will remain higher.
There are many stores which accept credit cards, but also many which don't, and there are not many ATMs which accept VISA or other international cards.
 
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