US Dollar to Egyptian Pound Exchange Rate
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How can I get the best exchange rate between US dollar and the Egyptian pound?
The Egyptian pound trades freely with other major currencies, meaning the rate fluctuates from day to day and hour to hour.
It’s always a good idea to check the real mid-market rate of a currency before you choose a money changing service. You can find the mid-market rate here on finder.com and once you know this rate, you can compare the different service providers. These service providers almost always operate with a buy rate and a sell rate, so you want to make sure both of those rates are as close to the mid-market rate as possible.
If you are sending money to friends or family in Egypt, online money transfer services often offers the best exchange rates. International bank transfers are also safe and reliable, but most of the time they don’t give you the best exchange rate. Lastly, if your friends or family in Egypt requires cash pickup, services like Western Union may be your best choice.
If you are travelling to Egypt, bringing an international debit card and withdrawing cash once in Egypt may give you the best rate. Fees on overseas card use and ATM withdrawals vary by card and bank though, so be sure to check the terms with your own bank first.
US Dollar
The US dollar is the most traded currency in the world. The world’s unofficial reserve currency, it can be found in most major currency pairs. In forex, it’s an important benchmark and target rate for countries that fix or peg their currencies against its value. It is also used as the standard currency for oil, precious metals and other commodities.
| Currency: | US Dollar |
| Currency Symbol: | $ |
| Sub unit: | cents |
| Bank notes: | $1, $5, $10, $20, $50, $100 |
| Coins: | 1c, 5c, 10c, 25c, 50c |
Egyptian Pound
The Egyptian pound is the official currency of Egypt. It replaced the Egyptian piastre in 1836, which had been used since the Ottoman Empire. In the early 1930s, the Egyptian pound was the first currency to employ a watermark to thwart possible counterfeiting.
| Currency: | Egyptian Pound |
| Currency Symbol: | E£ , ج.م |
| Sub unit: | piastre, millime |
| Bank notes: | 25pt, 50pt, £1, £5, £10, £20, £50, £100, £200 |
| Coins: | 25pt, 50pt, £1 |
What affects exchange rates between the US dollar and the Egyptian pound?
Since the Egyptian pound is now a free floating currency, the exchange rate is subject to the forces of supply and demand. Higher demand for Egyptian pounds means the exchange rate to other currencies will be higher. Similarly, lower demand for the Egyptian pound means you can buy your pounds for less dollars.
Egypt has experienced a long period of time with political and economic uncertainty, which adds pressure on the exchange rate. Political turmoil in Egypt means that you can get more pounds for your dollars, which is a good thing if you are traveling or sending money to Egypt. However, for anyone living in Egypt it may not be so good since their buying power overseas is reduced.
Send money from USD to EGP
How does the Egyptian pound trade against the US dollar historically?
Until 1914, the Egyptian pound was on a gold standard with one pound equal to 7.4 grams of gold. Later, the Egyptian pound became pegged to the British pound at a rate of 0.975 Egyptian pound to one British pound.
The peg with the British pound remained until 1962, when Egypt chose to instead peg its currency to the US dollar at a rate of one Egyptian pound to $2.55 USD. The US dollar peg remained in place until 1989, when the Egyptian pound was allowed to float, although only within a very narrow range, under a “managed float regime.”
In 2016, the Egyptian pound was finally allowed to float freely without any central bank intervention. All restrictions on foreign currency exchange were also lifted that year, resulting in a sharp drop in the exchange rate against both the US dollar and most other currencies.
US Dollar to the Egyptian Pound for the last 10 days
| Oct 09 | Oct 10 | Oct 11 | Oct 12 | Oct 13 | Oct 14 | Oct 15 | Oct 16 | Oct 17 | Oct 18 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 USD = | 16.3041 Inverse: 0.0613 | 16.2770 Inverse: 0.0614 | 16.2915 Inverse: 0.0614 | 16.2918 Inverse: 0.0614 | 16.3021 Inverse: 0.0613 | 16.2629 Inverse: 0.0615 | 16.2406 Inverse: 0.0616 | 16.2301 Inverse: 0.0616 | 16.2291 Inverse: 0.0616 | 16.2579 Inverse: 0.0615 |
US Dollar to the Egyptian Pound for the last 10 months
| Dec 2018 | Jan 2019 | Feb 2019 | Mar 2019 | Apr 2019 | May 2019 | Jun 2019 | Jul 2019 | Aug 2019 | Sep 2019 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 USD = | 17.9090 Inverse: 0.0558 | 17.8870 Inverse: 0.0559 | 17.5395 Inverse: 0.0570 | 17.2550 Inverse: 0.0580 | 17.1890 Inverse: 0.0582 | 16.9415 Inverse: 0.0590 | 16.6550 Inverse: 0.0600 | 16.6205 Inverse: 0.0602 | 16.4765 Inverse: 0.0607 | 16.3035 Inverse: 0.0613 |
US Dollar to the Egyptian Pound for the last 10 years
| Oct 2009 | Oct 2010 | Oct 2011 | Oct 2012 | Oct 2013 | Oct 2014 | Oct 2015 | Oct 2016 | Oct 2017 | Oct 2018 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 USD = | 5.4773 Inverse: 0.1826 | 5.7468 Inverse: 0.1740 | 5.9765 Inverse: 0.1673 | 6.1039 Inverse: 0.1638 | 6.8910 Inverse: 0.1451 | 7.1506 Inverse: 0.1398 | 7.9326 Inverse: 0.1261 | 8.8843 Inverse: 0.1126 | 17.6285 Inverse: 0.0567 | 17.9090 Inverse: 0.0558 |
Market rate for common transfer amounts USD to EGP
| US Dollars (USD) | Egyptian Pound (EGP) |
|---|---|
| $1 | 0 |
| $100 | 0 |
| $500 | 0 |
| $1000 | 0 |
| $1500 | 0 |
| $2500 | 0 |
| $5000 | 0 |
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