Egypt currency is the Egyptian pound (L.E.). One pound is made up of 100 piastres (pt). The notes are just in denominations of 1, 5, 10, 20, 50, 100 and 200 pounds. Coins come in denominations of 25, 50 piastres and 1 pound, but they seem to be almost nonexistent.
The government imposes no restrictions on the import or export of foreign currency as long as the visitor declares the amount on a customs form.
Prices can be written in either pounds or piastres; for example, 3.35 pound (L.E.) can also be written as 335 pt. In practice, however, vendors tend to round up, especially if you’re a tourist.
To change money, Change them here in Egypt! The rate here is much better. One GBP is about 24 Egyptian pounds. So if you would like to change money ask first about the change rate.
It is preferred to change money from ATM machines (hundreds of them), Money exchange offices in the Old Market or Na'ama bay, or from the banks.
How to pay your extras during your holiday?
You can pay either in British pound or change your money into Egyptian pounds. You can even pay by the credit cards. But for the credit cards they will charge you (in most cases) an extra commission of 2.5% percent of total payment amount.
How can you do money tranfers to Sharm El Sheikh from abroad?
The best way to transfer money to Sharm El Sheikh from anywhere in the world is through Western Union, located in Na'ama Bay.
Banks in Egypt
Banks are everywhere especially in the tourist cities like Sharm El Sheikh, it's so easy to find a bank even inside your hotel. Banks in Egypt work all days except Fridays and Saturdays, and they open from 09.00 till 14.00.
In Hadaba Area: National Bank of Egypt - Bank Misr - Bank Du Cairo - Arab-African Bank.
In Na'ama Bay: CIB - NSGB - HSCB.
In Nabq Area: HSCB - NSGB