The Egyptian government announced its readiness to introduce a new two LE coin into circulation, aiming to facilitate cash transactions and provide practical alternatives for citizens suffering from a severe shortage of small change, RT reported on Monday. This new coin will serve as a practical alternative, helping to reduce reliance on large quantities of smaller denominations. The measures also include modifying the metallic composition of the pound coin by using a new, less expensive alloy. This will ensure that the coin’s face value remains higher than the value of the raw material, thus preventing smelting and illegal trading. Egypt’s markets have suffered from a significant shortage of small denomination coins, particularly the one-pound and half-pound coins, causing daily difficulties in simple transactions such as purchasing food, using transportation, and accessing small services.

Source: Egypt Independent April 07, 2026 15:30 UTC