QUOTE
17/04/2007| EGYPT
In 2007 the Central Bank of Egypt is planning to widen the line of the existing banknotes by introducing two bigger denominations.
The banknote in the denomination of 200 Egyptian Pounds is to be issued in March, and the 500 Pound banknote will be issued by the 23rd of June, the country’s Independence Day.
The Egyptians’ attitude towards the innovations of the kind is ambiguous. Some economists say that this decision is not the evidence of the economy consolidation in the country, but on the contrary, is caused by inflation. Besides, it may involve the thread on the part of counterfeiters and other fraud with the exchange of the Egyptian currency on the “black market” in neighboring countries, particularly during the Muslims’ Hajj. Others believe, however, that the introduction of the larger denominations will simplify interbank operations and large transactions.
In 2007 the Central Bank of Egypt is planning to widen the line of the existing banknotes by introducing two bigger denominations.
The banknote in the denomination of 200 Egyptian Pounds is to be issued in March, and the 500 Pound banknote will be issued by the 23rd of June, the country’s Independence Day.
The Egyptians’ attitude towards the innovations of the kind is ambiguous. Some economists say that this decision is not the evidence of the economy consolidation in the country, but on the contrary, is caused by inflation. Besides, it may involve the thread on the part of counterfeiters and other fraud with the exchange of the Egyptian currency on the “black market” in neighboring countries, particularly during the Muslims’ Hajj. Others believe, however, that the introduction of the larger denominations will simplify interbank operations and large transactions.
I think it´s a nice Banknote
