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Egypt’s currency turns 115 years old

Posted on 06 January 2014

Sunday marks 115 years since Egypt printed its first banknotes, the Egyptian pound (LE), known back then as “Abou Gamaleen.” Egypt’s Central Bank printed the first paper notes on 5 January, 1899 - 65 years after Khedive Abbas Helmy issued a decree to introduce a new Egyptian currency to replace the piaster, state news agency MENA reported.
The Egyptian pound was valued at 7.43 gm of gold between 1885 and 1914. The value of the LE remained tied to the pound sterling until 1962 where it began being valued based on the United States dollar (USD)………………………………………..Full Article: Source


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