Egypt denies reports of widespread counterfeit 50-pound notes

The Central Bank of Egypt (CBE) on Monday denied social media reports of widespread circulation of counterfeit 50-pound notes, stating that all banknotes currently in the market remain valid legal tender.

In a statement carried by the Cabinet’s media centre, the CBE said there was no evidence of widespread counterfeit notes and that all banknotes in circulation across denominations were genuine and should be accepted at face value.

The central bank said it monitors cash circulation and investigates suspected counterfeiting cases daily, adding that any forged notes found in the market are dealt with immediately.

The Cabinet’s media centre urged the public not to rely on unverified information circulated online and to refer instead to official sources.

Attribution: Amwal Al Ghad English