Egypt's central bank denies stoppage of dealing with fiat pound in the market

CAIRO – 11 March 2021: The Central Bank of Egypt (CBE) denied Thursday the stoppage of circulating the Egyptian pound banknote in the market.

The Media Center of the Cabinet said in a statement, that it had contacted the Central Bank of Egypt, which denied the news, stressing that it was untrue to cancel dealing with the pound banknote in the markets.

CBE stressed the continuation of dealing with all banknotes in the market, including the fiat pound, without canceling.

It pointed out that the fiat pound has full discretionary power, and deserves to pay its full value in exchange for goods and services, and citizens have the right to use it naturally in all financial transactions.