Money in Egypt: Egyptian Pounds, Using ATMs, Currency Exchange, and more!
I am often asked about money in Egypt, including:
What currency is used in Egypt?
How much and when should I tip?
Where can I exchange money?
Will my credit cards work in Egypt?
This blog post will cover all of those questions, preparing you to be on top of your money game when traveling through Cairo and beyond.
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The Egyptian Pound
Egyptian Pounds have writing in Arabic and English, making it easy to know how much each bill is worth.
Egypt’s Currency is called the Egyptian Pound (now-on referred to simply as “pounds”), or guinea (pronounced like the country, “Guinea”) in Egyptian Colloquial Arabic. It is only used in Egypt, and is completely different from the “Pounds” used in the United Kingdom.
Egyptian Pounds on a micro-scale are divided up into quarter (25) and half (50) cent coins, but these are seldom used by tourists. There is also a 1 pound coin and 1 pound note, also seldom used by tourists. In addition, Egyptian Pounds come in 5, 10, 20, 50, 100, and 200 bills. Each bill has on one side an Islamic monument, and on the other, a monument or artifact from Ancient Egypt. Egyptian Pounds include Arabic and English letters and numbers, so tourists are always able to distinguish which bills and coins are worth which denominations.
Coins are seldom used by tourists, but do make a nice keepsake!
When traveling throughout Egypt, I highly recommend using Egyptian Pounds or credit card to pay for all purchases. Not only is it easier for Egyptian’s to accept money in Egyptian Pounds (they will not need to exchange it later), tourists also often receive better prices when using Egyptian Pounds to make purchases. Occasionally certain shop vendors or tour guides will ask to be paid in US Dollars, though, because of the fluctuations in the exchange rates, so you can always ask if someone prefers to be paid in USD or Egyptian Pounds. Never try to make purchases or tip using foreign coins or $1 bills, as these cannot be exchanged. Only do this as a last resort, like if you have no other currency to tip with. The person accepting this currency will be forced to exchange it for Egyptian Pounds with other tourists since official exchange offices do not accept $1 bills or coins.
Tipping Culture in Egypt
Tipping is customary in many more instances in Egypt than it is in the United States, and many Egyptians who work in the tourism sector rely on tips to pay their basic expenses. You can read more about when and how much to tip in this blog post dedicated to the subject.
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Where can I exchange money in Egypt?
In Egypt, there are three options to exchange money: at the airport, at exchange offices, and by pulling money direction from an ATM.
Exchanging money at the airport
When travelers arrive to Cairo International Airport (or any international airport in Egypt), they will purchase an entry visa for $25 USD, and the same counter where travelers purchase their entry visa is also the place where they can exchange foreign currency for Egyptian Pounds. I always exchange $100-200 USD for Egyptian Pounds at this point, to get me started, and to save hassle when it comes to getting from the airport to my hotel (it is much better to pay taxis in Egyptian Pounds than foreign currency).
Currency exchange offices (pronounced “SUH-RAW-FUH” in Egyptian Arabic) are a great place to exchange foreign currency for Egyptian Pounds.
Exchange offices
There are exchange offices throughout Cairo and the rest of Egypt, and these are great places to take foreign currency (in cash) and exchange it for Egyptian Pounds. Unlike many countries, Egypt regulates currency exchange offices, so travelers will receive the same rate no matter which currency exchange office is used. In Cairo, I often use exchange offices downtown, or in Dokki along Tahrir Street. There is also a convenient currency exchange office in the Hilton Ramses Hotel and in Coptic Cairo, so travelers will have numerous options to exchange foreign currency when in Cairo. In other cities frequented by tourists (Luxor, Aswan, Alexandria, Sharm el Sheikh, Hurghada, and more), there will also be many currency exchange offices, and a quick Google search or inquiry at one’s hotel should reveal the nearest one.
ATMs are EVERYWHERE in Egypt, and my favorite spot to get local currency.
ATMs
My favorite option for getting the bulk of my Egyptian Pounds is using ATMs while in Egypt. ATMs give the same, government-set exchange rate, oftentimes do not charge extra fees (your bank may charge a fee however), and are ubiquitous throughout Egypt.
All you need to pull money from an ATM is your debit card (a credit card linked to a checking account) and your PIN, and most travelers will also need to inform their bank they are traveling in Egypt and will be using local ATMs.
Hint: most ATMs in Egypt have a limit of 2000-3000 Egyptian Pounds for withdrawal, so travelers will often need to make multiple ATM trips throughout their time in Egypt, unless they have already exchanged lots of cash at the airport or foreign exchange offices
Will My Credit Cards Work in Egypt?
In the USA, credit cards are almost universally accepted, but in Egypt, travelers trying to use credit cards will often be frustrated, finding their cards are almost never useful.
Egypt is mostly a cash-based society, and credit cards are not something often used to make payments. This is slowly changing, so travelers can expect to use credit cards in the following scenarios:
When staying at international hotel chains, like Marriott, Hilton, etc.
When dining in expensive restaurants or places catering to tourists
Inside airports, shopping malls, and larger supermarkets
Making online purchases, such as train tickets, air tickets, and booking hotels online
Using Uber
However, in the following situations, credit cards are almost never accepted:
Local restaurants and bars
Public transportation and taxis (not Uber)
Local hotels and apartment rentals
Tourist sites (museums, temples, etc.)
Tour guides and companies
Tipping
American Express and Discover cards are almost never accepted in Egypt, except at international hotel chains. Visa and MasterCard are the most commonly accepted credit cards.
Preparing for your Egypt adventure by familiarizing yourself with the local currency, knowing when and how much to tip, and having plans on how to exchange money and when to use credit cards will help you focus on all the amazing experiences Egypt has to offer. What questions do you have about money in Egypt? Leave me a comment below!
