Egypt’s central bank denies issuing new low-denomination paper notes

Egypt’s central bank denied reports on Wednesday that it had issued new paper banknotes in the 25-piastre, 50-piastre, and one-pound denominations, saying it had not issued new paper notes in those values.

In a statement, the Central Bank of Egypt (CBE) said claims circulating on social media and some news websites that it had introduced new paper banknotes were inaccurate.

The CBE explained that the recent issuances of the 25-piastre, 50-piastre, and one-pound denominations have been limited to coins, with no new paper notes issued.

It added that the paper notes currently in circulation were issued previously and remain legal tender until the end of their circulation life.

The central bank said official data on currency issued in those denominations reflects the cumulative volume of paper notes released since their introduction, many of which remain in circulation alongside coins.

The central bank urged the public to verify information before sharing it and to avoid circulating inaccurate reports.

Attribution: Amwal Al Ghad English