Egyptian Lira to USD: A Comprehensive Conversion Guide

A Historical Perspective: The Rise and Fall of the Egyptian Lira

The Egyptian lira was the official currency of Egypt from 1885 to 1961, when it was replaced by the Egyptian pound. The lira was initially pegged to the British pound at 1 pound = 97.5 piastres (the Egyptian currency unit at the time). However, the lira's value depreciated significantly over time, reaching a low of 1 pound = 1,360 piastres in 1940.

The decline in the lira's value was due to a number of factors, including inflation, the First and Second World Wars, and the Suez Crisis. In 1961, the Egyptian government adopted the pound as the new official currency, with 1 pound equivalent to 1,000 piastres or 100 qirsh (the new currency unit).

The Egyptian Pound: A Stable Currency in a Volatile World

The Egyptian pound has been the official currency of Egypt since 1961. The pound is pegged to the US dollar at a rate of 1 USD = 15.75 EGP. This peg has been in place since 2003 and has helped to stabilize the pound's value.

Despite the peg, the pound has experienced some volatility in recent years. In 2016, the pound lost 14% of its value against the US dollar after the Egyptian government adopted a flexible exchange rate system. However, the pound has since recovered and is now trading at around its pre-2016 level.

Converting Egyptian Lira to USD: A Step-by-Step Guide

Converting Egyptian lira to USD is a relatively straightforward process. Here is a step-by-step guide:

1. Find a currency converter. There are a number of online currency converters available, such as Google Currency Converter and XE Currency Converter.
2. Enter the amount of Egyptian lira you want to convert.
3. Select USD as the currency you want to convert to.
4. Click on the "Convert" button.
5. The currency converter will show you the current exchange rate and the amount of USD you will receive.

Exchange Rates: A Key Factor to Consider

The exchange rate between the Egyptian lira and the US dollar is a key factor to consider when converting currency. The exchange rate fluctuates constantly, so it is important to check the latest rates before converting your money.

You can find the latest exchange rates on a number of websites, such as Google Finance and Yahoo Finance.

Using Egyptian Lira in Egypt: A Guide for Tourists

If you are planning to travel to Egypt, it is important to be aware of the following:

• The Egyptian pound is the only currency accepted in Egypt.
• You can exchange your foreign currency for Egyptian pounds at banks, exchange bureaus, and hotels.
• It is a good idea to have some small bills on hand for taxis, tips, and small purchases.
• You can use credit cards in most major cities, but cash is still the preferred method of payment in many places.

Additional Resources

• Egyptian Central Bank
• XE Currency Converter
• Google Currency Converter
• Yahoo Finance

Conclusion

Converting Egyptian lira to USD is a relatively straightforward process. By following the steps outlined in this guide, you can easily convert your money and get the best possible exchange rate.

Tables

Table 1: Historical Exchange Rates Between the Egyptian Lira and the US Dollar

Table 2: Currency Converter

Table 3: Exchange Rates on Different Websites

Table 4: Tips for Converting Currency in Egypt