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.
- 'Interesting potentional': why, despite all, global investors can't keep their eyes off MENA stocks
- Need some space? UAE's banking sector is getting too crowded
- Bank funding in the Middle East doesn't boil down to liquidity alone
- Why is the Israeli shekel so weak?
- What doesn't kill you, makes your stronger: why the Arab Bank is likely to emerge from the Israeli lawsuit 'unscathed with flying colors'