The Central Bank of Egypt (CBE) on Thursday maintained the maximum limit of banknotes travelers allowed to carry while entering or exiting the country at LE5,000.
According to a statement from CBE, the decision comes from the bank’s Board of Directors acting under Law 194/2020, which allows them to determine the maximum limit of Egyptian pounds a passenger can carry.
The law was ratified by President Abdel Fattah al-Sisi in late September.
The new law aims to strengthen the governance and independence of Egypt’s central bank and help the country avoid economic crises by clearly defining its role and objectives.
It is worth noting that the limit applies only to local currency, and passengers entering and leaving the country can carry up to US$10,000 or its equivalent in foreign currency.
Edited translation from Al-Masry Al-Youm