All money-related matters are essential for any trip abroad. Even more so when there is no possibility of using your local currency to make purchases. Therefore, we dedicate this page to explaining in detail how to pay in Egypt, with which currency, where you can exchange currencies, how widespread the use of bank cards is, and other related details. And always keep in mind that if you take your tour with us, we will help you at all times with this aspect, mediating when necessary and giving you practical advice.
The currency of Egypt is the Egyptian pound, which is said guinay or geneh in Arabic. You can see it abbreviated with the letters LE or with the symbols ج.م, EGP, £. It is in turn divided into 100 fractions of the Egyptian pound, called piastres and abbreviated as “pt”. Generally, prices are indicated with the full number of Egyptian pounds and with the decimal in piastres (in English) or cents. For example, 2.50 LE, although some shops may choose to express everything in piastres, if the amount is not very high. In this case it would be 250 pt.
The Egyptian pound has been the official currency of Egypt since the 19th century, when it was created precisely in a context of great openness towards foreign visitors and great British influence in the country. It displaced the piastre, which remained as the unit of the fraction of the currency, as we have seen. Important modifications were made to the banknotes and coins in circulation in the 21st century. And in even more recent times, in 2016, a very relevant measure was adopted: the exchange rate was liberalized. This caused the Egyptian pound to lose approximately half of its value, but since then it has remained quite stable.
If you are one of those who prefers to carry cash in your wallet and handle it like a local citizen, you will have it easy because cash is still the majority option for buying in establishments or paying for all types of services. And in certain areas far from the large centers, it is still the only form of payment. But regardless of your preference, you will have to learn how to pay in Egypt with its banknotes and coins, so we show it to you below:
In Egypt, a country so dedicated to tourism, currency exchange is not a problem. You will find numerous options to do so in cities and in strategic places, such as airports or large vacation resorts. You can exchange money, for example, in the classic offices dedicated to it, such as Forex, but also in the ATMs of banks, although the most common option is the aforementioned exchange offices, which maintain a practically fixed price for the service, with few cents of differences between them. Another option is to do it at Travel Choice travel agencies (formerly Thomas Cook).
As for the specific exchange value, this can vary greatly from one season to another. Therefore, if you are already clear about when you are going to make your trip to Egypt, we recommend that you consult this information periodically. As a guide, these were the values for 2018 and 2019 taking 1 US dollar (1US$) as a reference:
On the other hand, many wonder if it is possible to use foreign currencies in the country. And especially, how to pay in Egypt with dollars or euros directly. It should be said that in some places they are admitted, although in theory this is illegal and could cause problems for the provider that carries it out. It is not allowed because it usually implies excessive surcharges for the tourist, which is not considered a good practice towards the foreign visitor, whom the authorities try to take care of as much as possible.
You will find them without problems in the cities and in the main tourist destinations, although their number is considerably reduced in small towns far from the large urban centers, as well as in the oases. Therefore, a good habit is to withdraw enough money when you are going to make a long trip to remote areas, such as the desert or the places of pilgrimage in the Sinai Peninsula, because in these places it is not always possible to use the card, as we explain in the following section.
The main entities and, therefore, those that offer the most reliable ATMs are Banque du Caire, Banque Misr, CIB, HSBC and Egyptian American Bank. In most entities, except in Banque du Caire, there is usually a limit of 2,000 LE to withdraw from the ATM at one time.
As we said above, you will not have how to pay in the ‘Egypt deep’ if it is not with cash. We are talking about small and humble establishments, run by local people who continue to lead the ways of life of yesteryear and who have not wanted to switch to the POS for card payment… or have not been able to do so due to having a deficient or non-existent Internet connection.
But except for these specific cases, payment by debit or credit card is becoming more and more widespread. You can use this form of payment in places as different as a restaurant, a hotel, large supermarkets or pharmacies. It is also worth mentioning the automatic machines of the Cairo Metro, although this option is not always operational, so we recommend carrying cash on you just in case.
In parallel to the generalization of card payment, the number of contactless POSs is also increasing. But not all of them admit this option yet, so you will not always have how to pay in Egypt with contactless cards. Therefore, you should always carry a card with a valid magnetic stripe. In all cases, it is a good practice to request a paper copy of the operation, to be able to use it as proof in case of incident.
In addition to the above options, it is interesting to know how to pay in Egypt with alternative means, as it can be a solution to get out of a specific predicament. Below we show you some electronic forms of payment introduced in recent years, although you can only make use of them in urban environments with a high level of computerization, such as large shopping centers, establishments in financial areas or large museums and monuments.
Regardless of the ‘how to pay in Egypt’, it is important to talk about ‘how much to pay’. And you will see that this plays in your favor, because prices here are cheaper in practically all products and services. In this way, here you can stretch your travel budget more than in other tourist destinations . Or allow yourself some luxury that, in other places, would be more complicated.
As an example, we show you some commonly used products or usual services in the tourism sector so that you can check their price. We take the city of Cairo as a reference, so you must take into account that in secondary cities prices will be noticeably lower, while in high-standing vacation places in the Red Sea there may be some more expensive products, especially those aimed at tourists:
It is interesting to include two ‘unofficial’ issues about money on this page about how to pay in Egypt. They are tips and haggling: there is no law that stipulates how to act in these situations, but you will be involved in them daily, as they are part of Egyptian daily life.
With regard to tips, which are called bakshish, giving it is considered a generous gesture when a good service is received, and not only in the hospitality sector. It will be requested, directly or in a veiled way, by professionals as varied as taxi drivers or tourist guides, but it is up to you to deliver it as a thank you. More delicate is the use of gratuities as a condition to expedite a procedure, which you should treat with great tact if they are required of you.
And how to pay in Egypt the tips? In this case, it is useful to carry small change, although it is not always easy to carry it in your pocket. Therefore, make sure you always have small bills on hand. And if you are going to pay by card, you can also request that the account reflect the price increase that you consider appropriate.
On the other hand, haggling is an art in Egypt, as in other Arab countries. It is mainly put into practice in the souks and more traditional establishments . Therefore, it is used to buy handicrafts, handmade or made on a small scale. But you cannot take this issue as a game, as it can be offensive to the seller. Enter into this negotiation only if you have a real interest in the article, showing respect for the seller and their product, without excessively lengthening the process.
In any case, if you travel accompanied by professionals from Egipto Exclusivo, you will receive advice on these issues and on any other topic explained on this page: how much and how to pay in Egypt for a professional service, where to carry cash, etc.