Egypt Set to Release New Currency in Time for Eid al-Adha

Egypt’s central bank has begun the process of printing a 20-pound plastic currency, and it is planned to release it to the market around Eid, a source familiar with the central bank said.

The source added that the Egyptian bank had decided to design the new £20 and then began the process of printing the currency in order to place it on the local market soon.

He explained that the details of the choice of design for the new 20-pound coin and the date of its launch will be announced later by the Governor of the Central Bank.

Last year, the Central Bank of Egypt printed about £2 billion of the new £10 currency and released it to the market around Eid al-Adha, and adjusted ATMs scattered across the country to accept withdrawals and deposits from the new plastic currency. currencies.

The new plastic currency is produced on the latest banknote production lines used in the world in a new printing house in the Administrative Capital, and its presence does not cancel any of the previous issues of the same category and the continuation of its work and circulation.

The new plastic currency was developed as part of the Central Bank’s desire to keep up with the latest global and technological standards in security and printing of currency in circulation, as well as in the framework of the implementation of a clean monetary policy and improving the quality of banknotes in circulation. circulation in the Egyptian market, in addition to reducing the cost of printing banknotes, especially the best-selling categories, in the long term, given the durability of the paper, in line with the sustainability programs adopted by the state through the Egypt Vision 2030 .

Source: Cairo 24

Related Stories

Leave a Reply