What is the Egyptian pound (EGP)?
The Egyptian pound is the official currency for the Arab Republic of Egypt. The pound is divided into 100 piasters, or 1000 milliemes. The ISO code for the Egyptian pound is EGP, although LE is also frequently used as notation. The Egyptian government fixed the exchange rate through force, which led to the use of a de facto gold standard. As far as the global community knows, gold is still often used in internal transactions. Egyptian banknotes were issued for the first time in 1899.
