Egypt's central bank denied reports suggesting it had stopped printing polymer banknotes, affirming that production of the EGP 10 and EGP 20 plastic notes is ongoing and that both polymer and paper versions will continue to circulate concurrently. In a statement released on Tuesday, the Central Bank of Egypt (CBE) said that social media posts showing a recently printed paper EGP 10 bill had sparked speculation that polymer note production was being phased out. The bank clarified that these images do not reflect any shift in policy. "All denominations of the EGP 10 and EGP 20 notes—whether made of polymer or paper—remain valid and will continue to be used side by side," the CBE said. Egypt began issuing polymer banknotes in June 2023 as part of a broader effort to modernise its currency, citing enhanced durability, environmental benefits, and improved security features. The central bank's statement comes amid broader efforts to digitise and upgrade Egypt's financial infrastructure, including increased reliance on cashless transactions and financial inclusion initiatives. Attribution: Amwal Al Ghad English
