The Central Bank of Egypt denies stopping the usage of the fiat pound

The Central Bank of Egypt (CBE) denied the allegation that it intends to stop the circulation of the Egyptian pound banknote in the market.

According to a statement released by the Media Center of the Cabinet, it stated that it had contacted the Central Bank of Egypt, but such news was dismissed as hearsay.

The Central Bank of Egypt stated that it had no plan to cancel dealing with all banknotes in the market, including the fiat pound.

It pointed out that the fiat pound has full discretionary power and deserves to pay its full value in exchange for goods and services, and citizens have the right to use it in all financial transactions.