Egypt to issue 2-pound coin to ease small change shortage

CAIRO - 9 April 2026: The Public Treasury will release a new 2-pound coin to facilitate daily transactions and address a shortage of small change in local markets, Treasury Advisor Sherif Hazem said in a Wednesday televised interview.

Speaking to Extra News, Hazem explained that the new denomination aims to meet market demand, particularly for high-use services like the Cairo Metro. 

He noted that with ticket prices often at 7 or 8 pounds, the 2-pound coin will simplify payments.

The advisor emphasized that the new coin will not replace the 1-pound coin. A new, less expensive alloy will be used for the one pound coin, whose production will also be increased to meet demand. 

Officials told Youm7 on April 6 the move aims to ensure the currency's nominal value remains higher than the market value of its metal, preventing the melting and illegal trading of coins,

For his part, Hazen said “metal coins have a high quality and a long lifespan of 25 to 30 years,” noting that they offer better economic sustainability than paper currency. 

The new coins will be minted using modern alloys to ensure durability under heavy circulation.

While the Ministry of Finance oversees auxiliary metal coins, the Central Bank of Egypt remains responsible for paper currency. The two entities coordinate to determine the volume of currency needed for the market.