If you're planning a trip to Egypt, you'll want to make sure you have the right currency to make your trip as smooth and budget-friendly as possible. Here's a guide to help you navigate the currency options and payment methods available in Egypt.
First of all, it's important to know that the official currency of Egypt is the Egyptian Pound (EGP), and it's best to use this currency during your visit. While tourist establishments, airports, and hotels might accept other currencies like US Dollars, Euros, or British Pounds, you'll get a better exchange rate if you use the local currency. You can exchange foreign currency at banks, currency exchange offices, or bureaux de change, but be cautious of high exchange fees. ATMs are also widely available in large cities and tourist destinations, offering convenient access to cash.
When it comes to payment methods, credit and debit cards are commonly accepted in shops, hotels, and restaurants, especially in tourist areas. Major cards like Mastercard and Visa are widely accepted, while American Express and Diners Club may have more limited usage. Be sure to check with your bank about any hidden fees or charges for using your card abroad. Additionally, a prepaid travel debit card like Revolut or Wise can be a cost-effective option, offering low fees and competitive exchange rates.
It's always a good idea to have some local currency in cash for tips, transportation, and smaller purchases. However, be cautious when exchanging large amounts of money, as you may end up with leftover Egyptian Pounds that are challenging to exchange back into your home currency. Overall, Egypt is a budget-friendly destination, and with the right currency and payment methods, you can make the most of your trip without breaking the bank.
What You'll Learn
Currency in Egypt
The currency in Egypt is the Egyptian pound (EGP). It is a paper currency, with notes available in denominations of 5, 10, 20, 50, 100, and 200 Egyptian pounds. The Egyptian pound is further subdivided into smaller currency units known as piastres and millimes, with 1 EGP being equivalent to 100 piastres or 1000 milliemes.
While the Egyptian pound is the official legal tender in Egypt, other currencies such as US dollars, euros, and pounds sterling are also accepted in certain places, especially in tourist establishments like airports, hotels, and shops and restaurants in major tourist areas. However, if you pay in these foreign currencies, you may be given change in Egyptian pounds.
ATMs are now common in large Egyptian cities and tourist destinations, making it convenient to withdraw local currency upon arrival. Credit and debit cards are also widely accepted in Egypt, with Visa and Mastercard having the widest acceptance. However, there may be hidden fees and transaction costs associated with using cards abroad, so it is advisable to check with your bank about any applicable charges.
When it comes to exchanging currency, Cairo International Airport has 24-hour banks offering competitive rates. Exchange bureaus in Egypt, known as "maktab sarafa", also generally offer good rates, extended hours, and quick service. In contrast, hotels tend to offer poor exchange rates and should be avoided unless absolutely necessary.
It is worth noting that there is currently a shortage of Egyptian banknotes, and as a result, some currency exchange services may not offer Egyptian pounds. Therefore, it is recommended to have multiple options for accessing funds, such as a mix of cash, credit cards, and traveller's checks, to ensure a smooth financial experience during your trip to Egypt.
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Exchanging money in Egypt
The currency in Egypt is the Egyptian pound (EGP). One Egyptian pound is made up of 100 piastres. The smallest denominations are 25 piastres and 50 piastres, both of which are available in coin or note form. Notes also come in the following denominations: 1, 5, 10, 20, 50, 100 and 200.
It is recommended to have a mixture of Euros or USD and Egyptian pounds when travelling to Egypt. However, do not bring too much in Egyptian pounds as they cannot be exchanged back to foreign currency.
When exchanging money, it is a good idea to shop around for the best price. Ask how much you will receive after all charges and commissions have been deducted before agreeing to a deal.
At the Airport
The same counter where travellers purchase their entry visa is also the place where they can exchange foreign currency for Egyptian pounds. It is recommended to exchange $100-200 USD for Egyptian pounds at this point, to save the hassle of getting from the airport to your hotel (it is much better to pay taxis in Egyptian pounds than foreign currency).
Currency Exchange Offices
Currency exchange offices (pronounced "SUH-RAW-FUH" in Egyptian Arabic) are a great place to exchange foreign currency for Egyptian pounds. There are exchange offices throughout Cairo and the rest of Egypt. Unlike many countries, Egypt regulates currency exchange offices, so travellers will receive the same rate no matter which currency exchange office is used.
If you want to exchange money at an exchange office, you must have your physical passport with you. Exchange offices will need to make a copy of your passport, including your Egypt visa, and cannot do any currency exchange without this.
ATMs
ATMs are everywhere in Egypt and are a good option for getting local currency. They give the same, government-set exchange rate, often do not charge extra fees (although your bank may charge a fee), and are ubiquitous throughout Egypt. Most ATMs in Egypt have a limit of 2000-3000 Egyptian pounds for withdrawal, so travellers will often need to make multiple ATM trips.
Credit Cards
In the USA, credit cards are almost universally accepted, but in Egypt, travellers trying to use credit cards may be frustrated, finding their cards are not accepted as often as back home. Egypt is mostly a cash-based society, and credit cards are not something local Egyptians often use to make payments.
However, credit cards are now much more accepted than in the past. Places travellers can expect to use credit cards in Egypt include:
- International hotel chains, like Marriott or Hilton
- Some smaller hotels (ask ahead of time)
- Sit-down restaurants, especially places catering to tourists
- Fast-food chains, like McDonald's or Pizza Hut
- Airports, shopping malls, and larger supermarkets
- When making online purchases, such as sleeper train tickets, air tickets, and booking hotels online
- Using Uber (although cash is preferred)
- Shops in upscale areas like Zamalek or Maadi
- Most tourist shops/bazaars
- Buying tickets to sightseeing places (either online or in-person)
However, in the following situations, credit cards are almost never accepted:
- Local restaurants and bars
- Street food and local markets (not tourist markets)
- Public transportation and taxis (not Uber)
- Local hotels and apartment rentals (depending on the place)
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Using cards in Egypt
Credit and debit cards are becoming more widely accepted in Egypt, particularly in Cairo and other tourist destinations. However, Egypt is still largely a cash-based society, and you will need cash to buy food and shop at souks.
ATM Availability
Egypt's network of ATMs has improved significantly over the years, and you can find some belonging to Western banks such as HSBC and Credit Agricole. However, it may be challenging to find an ATM in rural areas or when travelling to the desert.
ATM Fees
ATMs will often charge their own fee for cash withdrawals, although this depends on the bank. They will also ask if you want them to handle the currency conversion, but it is usually cheaper to refuse and let your bank do it, especially if you are using a debit card with no foreign transaction fees.
Credit Card Fees
When using a credit card in Egypt, you may be charged foreign transaction fees, currency conversion fees, cash advance fees, and merchant fees. Check with your bank before travelling to understand the fees that may apply.
Safety
To ensure the safety of your card, keep it and your PIN secure and separate. Avoid leaving your belongings unattended, and be vigilant when withdrawing cash from an ATM. ATMs inside banks are generally safer than those on the street.
Card Types
MasterCard and Visa are widely accepted in Egypt. American Express is accepted in some high-end hotels and restaurants but is not widely used elsewhere.
Inform Your Bank
Before travelling to Egypt, inform your bank of your travel plans to avoid any suspicious activity flags that could result in your card being blocked.
Currency Conversion
The local currency is the Egyptian Pound. Although some services and tours may display prices in US Dollars or Euros, it is generally better to change your currency into Egyptian Pounds beforehand, as you will likely get a better rate.
Tipping
Tipping is expected in Egypt, so it is a good idea to keep some change on hand.
Card Recommendations
If you are travelling from the UK, the US, Canada, the EU, Australia, or Singapore, using a multi-currency travel debit card such as Revolut or Wise is recommended for the lowest fees and best exchange rates.
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Tipping in Egypt
Tipping is a common practice in Egypt and is considered a way to show appreciation for good service. It is also an essential part of the Egyptian economy, supplementing the low wages of service workers. As a tourist, you are expected to tip, and it is a way to build relationships and establish trust with locals.
Who to Tip
In Egypt, tipping is standard in the hospitality and service sectors. This includes waiters, hotel staff, tour guides, taxi drivers, and even bathroom attendants. It is also common to tip employees of hairdressing salons, beauty salons, and spas.
How Much to Tip
The amount you tip depends on the type of service received. In restaurants, it is customary to tip between 10-15% of the total bill. For hotel staff, such as housekeeping, bellhops, and doormen, a tip of 20-30 Egyptian pounds per service is appropriate.
For tour guides, a tip of 100-200 Egyptian pounds per day is customary, depending on the length and quality of the tour. If you are on a cruise, it is recommended to tip around $10 USD per person per night, and this should be given in an envelope at the end of the cruise.
When it comes to taxi drivers, rounding up the fare is usually sufficient, although you may add 5-10 Egyptian pounds for exceptional service. For private drivers, a tip of around 100 Egyptian pounds is appropriate for a full day, and 50 Egyptian pounds for a half-day.
In general, it is recommended to budget about 5-15% of your total trip funds for tipping.
When to Tip
In Egypt, it is customary to tip in cash and to hand the money directly to the person providing the service. Tipping on a credit card may be possible in some establishments, but it is always good to have cash on hand.
Other Things to Keep in Mind
- Haggling over the amount of a tip is considered rude.
- It is best to carry small bills in Egyptian pounds, as many service providers may not have change for larger bills.
- While tipping in US dollars is possible, the exchange rate may not be favourable, and some providers may not accept them, especially outside tourist areas.
- Avoid tipping with $1 USD bills or foreign coins, as these cannot be exchanged for local currency at Egyptian exchange offices.
- Tipping in Egypt is not always obvious, and you may encounter aggressive requests for tips (called "backsheesh") for services you did not ask for or want. In these situations, a firm "no" is appropriate.
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Saving money in Egypt
Egypt is a budget-friendly destination, but there are still plenty of ways to save money on your trip. Here are some tips to help you make the most of your budget:
Choose the Right Currency
The local currency in Egypt is the Egyptian Pound (EGP). While some tourist establishments, airports, and hotels may accept US Dollars, Euros, or British Pounds, you'll get the best exchange rates and deals by converting your money into EGP. Avoid changing large sums of money at the airport, as exchange rates there tend to be less favourable. Banks and exchange stores in cities offer better rates.
Opt for Affordable Food Options
Instead of splurging on luxurious meals, consider trying the local Egyptian cuisine, which is tasty and affordable. Look out for dishes like koushari, foul, falafel, and grape leaves, which can be found at cheap local restaurants or street vendors. Eating where the locals eat is a great way to save money and experience authentic Egyptian culture. Breakfast at your hotel can also help you save, especially if it's included in your room rate.
Choose Your Landmarks Wisely
Egypt has numerous landmarks and attractions, and it's important to prioritise the ones that interest you the most. This will ensure you don't miss out on experiences that are important to you while also managing your budget.
Utilise Public Transportation
Using public transportation, such as trains and local buses, can be a great way to save money. The 1st Class, air-conditioned express train service or the sleeping train between Cairo, Luxor, and Aswan offers a scenic and cost-effective way to travel. If you're looking for a faster option, consider taking domestic flights with Egypt Air, which offers a Flight Pass that allows you to lock in low fares for multiple domestic flights.
Book Smartly
When booking accommodation, transportation, and tours, it's often cheaper to book directly with local providers or through recommended local tour agents. Shopping around and comparing prices can help you find the best deals. Additionally, consider staying in hostels or guesthouses, which offer more affordable rates than hotels. If you're open to it, Couchsurfing or housesitting can provide free accommodation options.
Haggle and Avoid Touts
In Egypt, it's common to haggle when shopping in markets or stores. Don't be afraid to negotiate and walk away if the price doesn't feel right. When it comes to taxis, agree on a price with the driver before getting in, and be prepared to bargain. Avoid touts and hawkers around tourist spots like the pyramids, as they tend to charge exorbitant prices.
Save on Entrance Fees
If you're a student, the International Student Identity Card can get you discounted tickets at many Egyptian monuments and attractions. Additionally, consider purchasing a Cairo Pass or Luxor Pass from the Ministry of Antiquities, which offers discounted entry to multiple attractions.
By following these tips, you can make your money go further in Egypt and have a memorable trip without breaking the bank.
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Frequently asked questions
The local currency in Egypt is the Egyptian pound, abbreviated as EGP, E£ or in Arabic ( ج.م).
The Egyptian pound is mainly a paper currency. Notes are available in the following denominations: E£5, E£10, E£20, E£50, E£100, E£200. Coins come in denominations of: 25 piastres, 50 piastres and E£1.
Many shops, hotels and restaurants in tourist areas will accept payment by credit or debit card. However, smaller hotels, cafes, shops and markets are more likely to expect cash.
Yes, there are various options to get hold of Egyptian pounds once in Egypt. There are bureaux de change at airports and ports, and you can also exchange money at any bank. Many hotels will also exchange British currency for Egyptian pounds.
The best currency to take to Egypt is the local currency, the Egyptian pound. US dollars are also highly exchangeable at local banks and currency exchange offices.