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Introduction of the Egyptian Pound
Before minting the official currency Egypt used gold and silver as a means of currency. However, in 1834, under the new legislation, the minting of currency was approved. So, in the year 1836, the first Egyptian pound was introduced. In 1898 Egypt established the National Bank of Egypt the authority to print and circulate the Egyptian Pound. Banknotes or paper currency were first issued on 3rd April 1899. Until 1914, both currency notes and gold sterling pound were the official currency of Egypt. However, in 1914 the paper currency became the official monetary unit of the Egyptian pound. The current banknote and coin denominations in circulation are as under:
1. Banknotes: 25 paisters, 50 paisters, 1 EGP note, 5 EGP notes, 10 EGP notes, 20 EGP notes, 50 EGP notes, 100 EGP notes as well as 200 EGP notes.
2. Coins: 10, 25, 50 piasters and 1 EGP note.
Factors that affect the exchange of the Egyptian Pound to INR
Factors that are responsible for the fluctuation of the exchange rate between the Egyptian pound and the Indian Rupee on a global scale are as under:
1. Inflation Rates prevailing in the country
2. Interest rates offered by the bank to attract foreign investments
3. The economic decisions of the government
4. The political atmosphere prevailing in the government
5. The imports and exports of both countries
Convert the Egyptian Pound to INR Online as per Today’s Conversion Rate
The conversion of the Egyptian pound to the Indian Rupee is very simple. Let us convert 5000 EGP to the Indian Rupee. For the conversion of the EGP to INR we need to know the current exchange rates of both currencies. today the EGP to INR exchange rate is 1 EGP = 2.66 INR. So, 5000 EGP = 5000*2.66 = 13279.09 INR
Convert Egyptian Pound to INR
Above we have seen the conversion of the Egyptian Pound to the Indian Rupee. Let us now understand the value of the Egyptian pound in Indian Rupees. Let us convert 10000 Rupees to the Egyptian Pound. For the conversion of the Indian Rupee to the Egyptian Pound we need to know the current exchange rates of both currencies. Today the INR to EGP exchange rate is 1 INR = 0.38 EGP. So, 10000 INR = 10000*0.38= 3765.32 EGP
How are Egyptian Pound -INR Rates Determined?
The Egyptian Pound and Indian Rupee are widely traded in the forex market. The exchange rates of both currencies are determined by the central banks of the respective countries. The central banks overview the performance of their currencies in the forex market and determine their rate for the forex market. Similarly, another important factor that is considered by the central bank of both countries is the demand and supply of these currencies. Depending on the demand and supply of the Egyptian Pound and the Indian Rupee the exchange rates are determined by the National Bank of Egypt and the Reserve Bank of India respectively.
Egyptian Pound and INR Overview
The Egyptian Pound and the Indian Rupee are closely traded on the foreign exchange market. The following table showcases an overview of the Egyptian pound to the Indian Rupee.
Why Thomas Cook?
Unlock the mysterious story of Egypt with Thomas Cook. Whether you want to convert INR to USD or INR to EGP, Thomas Cook has got you covered. We facilitate INR to Egyptian Pound conversion at competitive prices, ensuring your faith in us. Our team of experts helps you get the best rates while safeguarding you from all sorts of foreign exchange discrepancies. Business and leisure travelers from across the globe trust us for all their travel and forex requirements, it’s time you do too.
How to check the live price of 1 INR to EGP?
If you want to check live exchange rates, then head straight to our instant money converter and find out the best Egypt currency to the INR exchange rate. This tool is designed to keep your international trip free from any hassles and apprehensions. If you are one of those travelers who struggles with doing the mental conversions, then you could use this 24x7 tool and find the value of 1 INR to EGP on the go, anywhere.
How can you buy forex online?
To convert INR to Egyptian Pound online, simply log on to the Thomas Cook website, fill in the required details and you are good to go. Our trustworthy executive will also deliver your foreign exchange at your doorstep within 24 hours. In case you wish, you can also convert INR to Egyptian Pound online and personally visit your nearest branch to collect your foreign exchange.
Still, have concerns regarding foreign exchange? Speak to our executive or head to our blog section and read about the benefits of partnering with Thomas Cook.
