Egypt will use plastic banknotes by November 2021

1 min read
August 2, 2021

Egypt will start releasing banknotes made of polymer in November. Plastic banknotes are considered more challenging to counterfeit and have a longer lifespan.

The look of the new 10 EGP note made with polymer
The look of the new £10 note made with plastic | El Balad

On July 31, the president of Egypt, Abdel Fattah El-Sisi, reviewed samples of the newest plastic Egyptian Pound, set to be in circulation at the end of 2021.

In November, Egyptians will be able to use money made of synthetic polymer, or polypropylene, a widely used material found in food packaging, polyester clothes or payment cards.

The banknotes of £10 and £20 (US $0.64 and $1.28) will start circulating with polymer along with the older versions of the money made with paper.

Banknotes are usually made with cotton-fiber paper, but about thirty countries such as Canada, Singapore or the United Kingdom already use thermoplastic to print money. Australia was the first country to fully adopt polymer banknotes in 1996. Egypt has the fourth largest population to use polymer banknotes after Nigeria, Russia and Mexico.

President of Egypt looks at the future banknotes to be rolled out in November 2021
President of Egypt looks at the future banknotes to be rolled out in November 2021 | Presidential communications

Polymer banknotes harder to forge

The United States, China, Japan or the European Union use paper banknotes. The United States have a blend of 75% cotton and 25% linen. China only has a commemorative note made of polymer. Japan produces its banknote from mitsumata, a plant used to make paper in Japan.

Banknotes have a shorter lifespan than coins. However, polymer banknotes, which can be recycled, tend to be less easily torn and cleaner than paper-based ones. Thought to be more adapted to high temperatures and levels of humidity, Nigeria yet considered phasing off polymer banknotes in 2013 because of a bad experience with the money. The notes can become sticky with very hot temperatures, harder to fold and more expensive to print.

Countries usually introduce the most common banknotes or with the lowest value first as they are more widely used and subject to deterioration.

More sophisticated, polymer banknotes are also more difficult to counterfeit. Banknotes made of a mix of polymer and paper, with a small band of plastic to avoid forgery, are also in circulation in many countries

Egypt will be able to manufacture its currency by itself as the Central Bank of Egypt completed the construction of the new printing press in January 2021 in the new administrative capital, east of Cairo.

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Clément Vérité

Clément is the executive editor and founder of Newsendip. He started in the media industry as a freelance reporter at 16 for a local French newspaper after school and has never left it. He later worked for seven years at The New York Times, notably as a data analyst. He holds a Master of Management in France and a Master of Arts in the United Kingdom in International Marketing & Communications Strategy. He has lived in France, the United Kingdom, and Italy.