Money for Egyptian Travel: Should You Use Pound or Dollar in Egypt
Planning a trip to Egypt? Discover how using local currency, the Egyptian Pound (EGP), can unlock better prices and smoother transactions in local markets and for everyday purchases. While US dollars are widely accepted in tourist hubs and for larger transactions like tours and hotels, EGP is essential for navigating local life, from street food to public transport. Learn how to exchange currency safely at banks and ATMs for the best rates, avoiding airport exchanges and the black market. Read on to optimize your travel budget and make the most of your Egyptian adventure.
Important information
- While US dollars are accepted in tourist areas, using Egyptian pounds (EGP) is generally recommended, especially for smaller purchases, and can often get you better prices.
- Exchange currency at banks or authorized exchange bureaus for the best rates, and avoid airport exchanges and the black market.
- Bank ATMs offer a convenient way to withdraw EGP at competitive rates.
- Carry both USD and EGP. USD is preferred for tours and hotels while EGP is essential for local markets, tips, and transportation.
- Budget approximately 750 EGP (about $50 USD) per day for expenses and tips.
Understanding Currency Use in Egypt: Egyptian Pound vs USD
Using Egyptian pounds (EGP), the local currency, offers several advantages when visiting Egypt. While some tourist areas may accept US dollars, Egyptians primarily use EGP for daily transactions. Local vendors often prefer EGP, and paying in the local currency can often get you better prices and avoids confusion with exchange rates. Major establishments like hotels and malls typically accept credit cards. For simpler daily purchases such as street food or souvenirs, using EGP is generally recommended.
Why the USD is Widely Accepted in Egypt
The US dollar enjoys widespread popularity in Egypt due to its perceived stability and advantageous exchange rate. Many tourism workers, including guides and hotel staff, often prefer tips in USD, allowing them to maximize their earnings against the fluctuating Egyptian Pound. Vendors in tourist hubs readily accept dollars, especially for larger purchases, making it a convenient currency for visitors.
When Egyptian Pounds Are Necessary for Transactions
Using Egyptian Pounds (EGP) is essential when shopping in Egypt’s local markets and small shops. They are perfect for small tips and generally preferred by vendors. Some places might accept US dollars, but using EGP simplifies transactions, whether you are buying snacks, drinks, or souvenirs. Public transport, including taxis and buses, also typically requires payment in local currency.
Currency Exchange in Egypt: Best Practices
Secure the most favorable exchange rates in Egypt by using banks and authorized exchange bureaus. Avoid airport exchanges, as their rates are often less advantageous. Keep your passport accessible for identification purposes. Exchange rates fluctuate daily, so check them often.
- Banks and authorized exchange bureaus offer better rates than airport exchanges,
- Carry your passport for identification,
- Regularly check for daily exchange rate fluctuations.
Bank ATMs dispense Egyptian pounds, frequently offering competitive rates. Avoid the black market; it often entails unfavorable rates and potential legal repercussions. Opt for banks and official exchange offices to ensure a fair transaction.
- Use bank ATMs for competitive rates on Egyptian pounds,
- Steer clear of the black market to avoid unfavorable rates and legal issues,
- Choose banks and official exchange offices for secure transactions.
Pre-trip research on current exchange rates will give you valuable market insight.
Where to Exchange Money: Banks and Exchange Offices
For a safe currency exchange in Egypt, stick to banks and official exchange offices. These reputable institutions offer reliability and competitive rates. ATMs are another convenient option for withdrawing Egyptian pounds. Prioritize well-known banks and exchange bureaus to avoid scams. Be especially cautious of unofficial money changers.
Exchange Rates and Avoiding the Black Market
Exchange your currency securely at banks or official exchange bureaus for reliable service and enhanced security. Unofficial money exchangers, while sometimes offering enticing rates, pose significant risks. These risks include scams, counterfeit currency, and potential legal consequences. Before exchanging, check the official exchange rate to protect yourself and your finances.
Travel Tips: Budgeting and Currency for Your Trip to Egypt
US dollars are widely accepted for tours and hotels, but Egyptian pounds (EGP) are useful for smaller purchases, tips, and local markets. It’s best to carry both.
For everyday expenses like tips, transportation, and small souvenirs, exchange around $100 USD to EGP. If you need more EGP, ATMs are widely accessible. Keep smaller EGP denominations handy, and budget approximately 750 EGP (about $50 USD) per day for expenses and gratuities.
Best Currency to Take for Tours and Hotels
For tours and hotels, US dollars are widely accepted and often preferred. However, for local markets and smaller establishments, it’s essential to have Egyptian pounds, as these places may not accept dollars.
Managing Your Travel Budget with Local and Foreign Currency
While your credit card offers convenience at hotels abroad, carrying a combination of Egyptian pounds and US dollars is recommended. Tracking your daily expenses will help ensure you have sufficient cash for your needs throughout your trip.
