The currency in Egypt is the Egyptian pound (LE). There are
100 piastres in one Egyptian pound. Notes
in common circulation are 100, 50, 20, 10, 5 and 1 Egyptian
pounds and 50 and 25 piastres.
Paper money gets very old, tattered and torn, especially
the smaller notes. Egyptians will often refuse to accept the
notes in worst condition, especially torn ones. It may be best
to refuse any that are torn or repaired with
tape in case you get stuck with them.
There are coins but they are rarely used, except by local people
for the ferry or for a local bus. Even in shops, most bills
are rounded to the nearest 25 piastres. In restaurants change
is normally rounded to the nearest pound.
Shops never seem to have
any change, so it is best to pay for low cost items, such as
drinks and small purchases from the market with the right money.
However, the smaller notes are hard to get hold of. We suggest
you keep hold of LE1 and LE5 notes for these minor purchases
and for tipping.
When and where to get cash
There are plenty of cash machines (ATMs) in Luxor. There are
cash machines in several of the hotel lobbies, including the
Movenpick, the Sonesta St George (three inside and one outside),
the New Winter Palace, the Sofitel Karnak and the Mercure Hotel
(the one on the Corniche, not the Mercure Inn behind Luxor Temple).
There are also several machines outside banks along the Corniche
and along the main road around the hotels to the south of the
town. Click here for a list of Visa cash machines in Luxor. Most of these ATMs will also take Link and other popular British debit and credit cards.
There are Bureaux de Change, and banks with exchange desks,
in most parts of town, including along the Corniche and amongst
the hotels at the southern end of Luxor.
When you change or draw money you are given an official receipt,
which you are told to keep for inspection or in case you need
to change Egyptian notes back into another currency.
We have never had a receipt checked, but it is best to hold on
to one or more to cover the amount of Egyptian cash you
have, just in case.
Value of the Egyptian pound
The Egyptian Pound (LE) has been worth
less than 10 English pence for a few years. Check
the current rate, but for ease of calculation it is probably
safe to work on the rule of thumb that LE10 is worth
very roughly £1
sterling or LE1 is 10 pence (English).
Some examples of currency exchange rates appear below.
These are today's commercial rates. You can expect to get
very close to these rates if you draw or change money in
Egypt. You will usually get quite a lot less if you buy
Egyptian pounds in another country before you go. This
list is up to date and fetches today's currency rates from coinmill.com.
Credit cards and travellers cheques
are widely accepted. However, not all hotels
or cruise boats will accept them for settling final bills.
We
are not financial advisors
The
advice we offer about money, when and where to get it and
about the exchange rate, is based on our own experience
and on currency rates provided by banks and other foreign
exchange bureaux. We are not financial advisors, we do
not provide qualified financial advice and we have no links
with any financial institutions.