Business Hub – Cairo:
In light of the keenness to keep pace with the latest global and technological measurements in securing and printing the currency in circulation, The Central Bank of Egypt decided to introduce the ten-pound denomination of plastic (polymer), which was produced using the latest banknote production lines applied in the world at the new printing house in the Administrative Capital. Emphasizing that none of the previous issues of the same category will be canceled and that they will continue to be used and circulated.
The introduction of the new currency comes within the framework of implementing the clean monetary policy and raising the quality rates of banknotes circulating in the Egyptian market. In addition to reducing the cost of printing banknotes, especially the most widely traded categories, in the long run due to the longevity of the paper, In line with the sustainable development programs adopted by the state through Egypt’s Vision 2030,
The new ten pounds have been designed with a modern and innovative character. Where the new currency is adorned with the Al-Fattah Al-Alim Mosque, as it is one of the landmarks of the Islamic architectural styles in the New Administrative Capital. As well as the Pharaonic civilization represented in the statue of Hatshepsut, which reflects the identity of the ancient Egyptian state, The new currency links the ancient Egyptian history with the modern era, It combines the civilization of the grandparents and what the grandchildren have accomplished.
Plastic money is flexible and strong. and less thickness, The longevity of the paper is about three times that of the current cotton paper category. Besides it is water resistant, and less affected by dust, It is also environmentally friendly and recyclable. and more resistant to pollution compared to the denominations of paper money in circulation, In addition to the difficulty of counterfeiting and counterfeiting.
The Central Bank of Egypt stresses that the circulation of the new plastic currency comes alongside its paper counterpart of the ten-pound denomination currently in circulation, The citizen can obtain the new plastic ten pounds through the network of Egyptian bank branches, which number more than 4,500 branches.