One pound notes to remain legal tender in Egypt
Egyptian one-pound notes still represent legal tender, regardless of their recent replacement with metal coins, the Central Bank of Egypt (CBE) announced on Wednesday.
In 2006, the CBE issued new coins in denominations of 50 and 100 piastres (LE0.5 and LE1, respectively). Since then, some Egyptian traders have been reluctant to accept the old banknotes at their full value.
- Understanding the ripple effect: 8 reasons the US economy has slowed down in Q1 of 2015
- Can Bahrian emerge from the oil price plunge 'stronger than ever'?
- Egyptian stocks plummet as Yemen confict deepens
- UAE sweetens flotation regulations to attract more investment
- Replacing Switzerland? Why Lebanon isn't keeping its banking secrecy a secret