1000000 EGP to USD

The Egyptian pound (EGP) is the currency of Egypt. It is subdivided into 100 piastres. The Egyptian pound is pegged to the US dollar at a rate of 1 USD = 15.7 EGP.

As of March 8, 2023, 1000000 EGP is equal to 63694.96 USD.

Currency Conversion Table

Factors Affecting Currency Exchange Rates

The exchange rate between the EGP and the USD is determined by a number of factors, including:

• Interest rates: The central bank of Egypt sets interest rates, which affect the demand for the EGP. Higher interest rates make the EGP more attractive to investors, which can lead to an appreciation of the EGP against the USD.
• Inflation: Inflation is the rate at which prices for goods and services increase over time. Higher inflation can lead to a depreciation of the EGP against the USD.
• Economic growth: Economic growth can lead to an appreciation of the EGP against the USD. This is because a growing economy attracts investment, which increases demand for the EGP.
• Political stability: Political stability can lead to an appreciation of the EGP against the USD. This is because investors are more likely to invest in a country that is politically stable.

How to Convert EGP to USD

There are a number of ways to convert EGP to USD, including:

• Banks: Banks offer currency exchange services. The exchange rate at banks is typically less favorable than the interbank rate.
• Currency exchange bureaus: Currency exchange bureaus offer currency exchange services. The exchange rate at currency exchange bureaus is typically more favorable than the bank rate.
• Online currency exchanges: Online currency exchanges offer currency exchange services. The exchange rate at online currency exchanges is typically the most favorable.

Tips for Converting EGP to USD

• Compare exchange rates: Before converting EGP to USD, compare exchange rates from different banks and currency exchange bureaus. This will help you get the best possible rate.
• Use a reputable currency exchange: When converting EGP to USD, use a reputable currency exchange. This will help you avoid being scammed.
• Be aware of fees: Banks and currency exchange bureaus typically charge fees for currency exchange services. Be sure to ask about these fees before converting EGP to USD.

Conclusion

The Egyptian pound is the currency of Egypt. It is pegged to the US dollar at a rate of 1 USD = 15.7 EGP. The exchange rate between the EGP and the USD is determined by a number of factors, including interest rates, inflation, economic growth, and political stability. There are a number of ways to convert EGP to USD, including banks, currency exchange bureaus, and online currency exchanges. When converting EGP to USD, compare exchange rates from different providers and use a reputable currency exchange.