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Hence the Egyptian and Turkish units split from each other in value, with the Egyptian unit continuing its exchange value of 97.5 piastres to the pound sterling. In 1885, Egypt went into a purely gold standard, and the Egyptian pound unit, known as the juneih, was introduced at E£1 = 7.4375
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Meanwhile, back in 1840, despite Egypt's separate coinage, it was agreed under the Turkish-Egyptian treaty dated that same year, that coins struck in Turkey and Egypt should nevertheless maintain equal value. However, in 1844, the Ottoman piastre was devalued in conjunction with the creation of a new Ottoman lira unit, but Egypt did not follow ...
The piastre was based on the Turkish kuruş, introduced while Egypt was part of the Ottoman Empire. As in Turkey, debasement lead to the piastre falling significantly in value. In 1834, the pound, or gineih (Arabic), was introduced as the chief unit of currency, worth 100 piastre. The piastre continues in use to the present day as a subdivision ...
A hole in the top of the ram's head indicates where a gilded disk would originally have fitted. A hieroglyphic inscription runs round the sides of the plinth from front to back and proclaims Taharqa as the son of Amun and Mut, Lady of Heaven, 'who fully satisfies the heart of his father Amun'. [4] [5]
The currency weakened to beyond 50 Egyptian pounds to the dollar - far beyond previous records - from about 30.85 pounds, a level Egypt has for months tried to defend. It closed at 49.4 to the dollar.
The first pound to circulate in Sudan was the Egyptian pound. The late 19th-century rulers Muhammad ibn Abdalla (the Mahdi) and Abdallahi ibn Muhammad (the Khalifa) both issued coins which circulated alongside the Egyptian currency. When Anglo-Egyptian rule in Sudan ceased on January 1, 1956, and Sudan became an independent country, a distinct ...
The twenty pence (20p) coin was introduced in 1982 to fill the gap between the 10p and 50p coins. The pound coin (£1) was introduced in 1983 to replace the Bank of England £1 banknote which was discontinued in 1984 (although the Scottish banks continued producing them for some time afterwards; the last of them, the Royal Bank of Scotland £1 ...