The Egyptian State Information Service announced the release of a new LE20 polymer banknote ahead of Eid al-Adha.
An official statement said on Monday: “The new plastic currency was printed at the new Central Bank of Egypt printing press in the Administrative Capital, based on holograms and watermarks that were manufactured at the NASPS complex in the Administrative Capital.”
“The design of the new banknote is distinguished by its support for people of determination, after adding the Braille method,” it added.
CBE had approved the LE10 plastic banknote before Eid al-Adha 2022. People used to hand new banknotes to children as “Eidiya” (Eid gift) as part of Eid traditions.
The Deputy Governor of CBE Khaled Farouk previously told Al-Masry Al-Youm that the Central Bank is already working on polymer notes that will be printed in the near future.
He explained that the CBE has already imported equipment and devices intended for processing denominations using the Braille method.
Farouk said that polymer money has a life span five times longer than regular banknotes, and is less expensive than paper and metal money.
He added that it is similar to paper money, but stronger, and helps fight currency counterfeiting and control the money market. It is also environmentally friendly and difficult to write on, and is resistant to water, moisture and dirt and does not transmit viruses, he concluded.
