Egypt to issue LE20 polymer banknote

Egypt to issue LE20 polymer banknote

TV host Youssef al-Husseini announced that a twenty-pound plastic (polymer) banknote will soon be issued, after citizens traded the ten-pound plastic notes introduced last year.

Speaking on his show “Ninth” on Channel One, Husseini warned civilians not to circulate any alleged images of the new twenty-pound plastic denomination.

“Most of the images that exist now, such as the images of the ten plastic notes of last year, are not real. Do not circulate unreal images until the Central Bank of Egypt issues images of the twenty-pound denomination,” he explained.

The Deputy Governor of CBE Khaled Farouk previously told Al-Masry Al-Youm that the Central Bank is already working on polymer notes that will be printed in the future.

He explained that the bank imports equipment and devices intended for processing denominations using the Braille method, in preparation for their use during the coming period.

Farouk said that polymer money has a life span five times longer than regular banknotes, and is less expensive than paper and metal money.

He said that it is similar to paper money, but stronger, and helps fight currency counterfeiting and control the money market.

Farouk noted that it is also environmentally friendly and difficult to write on, and is resistant to water, moisture