Currency.

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Major Thom
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Re: Currency.

Post by Major Thom » Mon Apr 02, 2018 5:20 am

Banks deal with money not with Monopoly Notes. :lol: :lol: I also think that when Egypt starts defaulting on its debts, Dollars, Sterling etc will be the only currency available to stop banks going under.



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Re: Currency.

Post by crewmeal » Tue Apr 03, 2018 12:50 pm

A funny thing happened when I tried to change a 200 note for 10’s in a bank opposite the quayside in Aswan this morning. At the first bank a man dressed nicely in a suit took my note and then went to a similarly dressed man who then looked at it and passed it onto yet another man who gave it to a clerk who then told me we don’t have any 10’s left go next door. At the next bank I was escorted to a clerk who then told me “sorry safe down no money go next door” I told him they didn’t have change what should I do? To which he he said “Inshallah God will change your money”

I eventually succeeded changing around the corner. Moral of the story? Bring your own tenners or put your trust in God!

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Re: Currency.

Post by Who2 » Tue Apr 03, 2018 2:05 pm

Petrol stations always have loads of change.... 8)
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Re: Currency.

Post by HEPZIBAH » Tue Apr 03, 2018 5:50 pm

Late last night I sorted out out a drawer in which I keep all sorts of travel 'stuff'.
I think I may be the reason that it's difficult to get small change in Luxor. :a2: :a21: It took me quite a while to count the LE and made me think that perhaps I may have to consider another visit after all.
Shame it wasn't Moroccan dirhams as I didn't find as many of those as I'd anticipated. :(

Does anyone have a need for any French Francs? :roll:
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Re: Currency.

Post by crewmeal » Thu Apr 05, 2018 5:48 am

Interestingly I went back to the first bank to change some sterling only to find it’s now done by an ATM. You put your notes in and an on screen message confirms the amount and if you’re happy press a button and that’s it you get your LE with a receipt stating the rate etc. Not bad for Egypt.

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Re: Currency.

Post by newcastle » Thu Apr 05, 2018 6:54 am

crewmeal wrote:Interestingly I went back to the first bank to change some sterling only to find it’s now done by an ATM. You put your notes in and an on screen message confirms the amount and if you’re happy press a button and that’s it you get your LE with a receipt stating the rate etc. Not bad for Egypt.
They've been around for a couple of years.

After one in Hurghada swallowed 400 GBP and didn't give me any EGP (I think I wrote about it before), and it took weeks and a trip to Cairo to obtain repayment, I've been wary of using them!

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Re: Currency.

Post by HEPZIBAH » Thu Apr 05, 2018 7:15 am

newcastle wrote:
crewmeal wrote:Interestingly I went back to the first bank to change some sterling only to find it’s now done by an ATM. You put your notes in and an on screen message confirms the amount and if you’re happy press a button and that’s it you get your LE with a receipt stating the rate etc. Not bad for Egypt.
They've been around for a couple of years.

After one in Hurghada swallowed 400 GBP and didn't give me any EGP (I think I wrote about it before), and it took weeks and a trip to Cairo to obtain repayment, I've been wary of using them!
I was introduced to one of those machines in Luxor five or six years ago. I'd queued in the bank for ages to change money only to be told I had to do it using the machine outside. Thankfully they sent an assistant with me to show me how it worked. I've only used it once since then as I'm always worried something will go wromg.

I used my credit card in one of the machines once but no money was delivered. When I reported it the bank were insistqnt that I'd had the money. Thankfully it was only a relativly small amount at the end of my stay!

Elsewhere, I've had my card swallowed ul by the machine.

Is there any wonder I prefer to travel with cash to exchange where possible!
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Re: Currency.

Post by Dusak » Thu Apr 05, 2018 8:50 am

I don't know if its still there, but down the passageway leading to the Winter gardens there was one of those machines there, that was ten years ago. Personally I would not trust them. I've had my UK card taken by the ATM at the HSBC a few years back, that was hard work just getting it back.
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Re: Currency.

Post by crewmeal » Wed Apr 18, 2018 6:03 am

Interesting to see the LE is dropping again £1 = 25.31LE. How come? stronger pound? weaker LE? I'll be back in the summer so it can drop as low as it likes.

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Re: Currency.

Post by newcastle » Wed Apr 18, 2018 11:44 am

crewmeal wrote:Interesting to see the LE is dropping again £1 = 25.31LE. How come? stronger pound? weaker LE? I'll be back in the summer so it can drop as low as it likes.
More likely the strengthening pound.

The EGP has been pretty flat against the US dollar over the last 6 months - @ 17.6 - whilst it has fallen from 24 to 25 against the GBP.

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Re: Currency.

Post by Major Thom » Thu Apr 19, 2018 4:15 am

If the LE is getting weaker then price rises may be in the air to compensate. Sounds a bit like the economy will go from Junk to Double Junk :lol: :lol: We have ATM's here, the ATM's at the banks are fine to use and give the proper exchange, but there are Blue and Yellow ATM's that seem to be run privately and they are all over the place, if you use these then expect to get a high exchange rate being charged. (Many Tourists use them thinking they are the same rate as banks but they are not) Hardly any locals or ex pats use these blue and yellow ones, they know different. In some cases you can loose anywhere between 4 and 5 Euros depending on what amount of cash you need from them. I notice the GBP is getting stronger by the day, a year ago it was Pound for Euro now its pound per 1.3 Euro's, so ex pats are feeling the benefit. The only thing here that goes up is food. When I was in Iceland a few weks ago our connecting flight was the next day, we purchased a suitcase in Luton, (I had paid for two and we used one in the end) and filled it with food to bring back (Non Perishable) An example Weetabix in Luton cost 2GBP here the same for 36 biscuits cost 4.2 Euro's. With what we brought back with us all we had to buy for three weeks was milk and other dairy products. I was quiite proud of the fact of being caused Scrooge, and one time tight as a ducks backside, but who cares, every little helps with the bank account.

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Re: Currency.

Post by carrie » Thu Apr 19, 2018 5:10 am

If there is one food I really hate it is Weetabix. Dried sawdust. :td

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Re: Currency.

Post by crewmeal » Thu Apr 19, 2018 6:17 am

Western Union

Here's something I came across the other day. I wanted to send £100 to a friend and used WU for the first time. I went through the procedures and all seemed ok. However the recipient went to the shop in TV street and was told that LE was not accepted the transaction had to be in US$. A lesson learnt here, when you do a transaction make sure you use the $$$ even though the the form says you can use LE. The reason behind it so I was told by the manager was all Egyptian transactions were done in $$$. :urm: :urm: :urm:

One other point they use a rate of £1 = $1.32. A truly s**t rate. Also a fiver for handling. A truly poor day for exchanging money.

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Re: Currency.

Post by newcastle » Thu Apr 19, 2018 8:22 am

crewmeal wrote:Western Union

Here's something I came across the other day. I wanted to send £100 to a friend and used WU for the first time. I went through the procedures and all seemed ok. However the recipient went to the shop in TV street and was told that LE was not accepted the transaction had to be in US$. A lesson learnt here, when you do a transaction make sure you use the $$$ even though the the form says you can use LE. The reason behind it so I was told by the manager was all Egyptian transactions were done in $$$. :urm: :urm: :urm:

One other point they use a rate of £1 = $1.32. A truly s**t rate. Also a fiver for handling. A truly poor day for exchanging money.
The WU online forms do seem misleading.

The 5% charge is clearly explained - in addition to £100 you pay £4.90 - but then you are told the recipient will receive 2434 EGP which is clearly not the case.

If you send $ - at their appalling rate - the recipient receives $132.8 and no way will the office in Egypt translate this to 2434EGP! More like 2300EGP and possibly a lot less!

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Re: Currency.

Post by crewmeal » Thu Apr 19, 2018 12:38 pm

Newcastle - your figures are so accurate. I can't think of a way around this to get better value. I wonder if I order dollar to dollar I might get a better rate through the banks here. I'll see what happens next time.

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Re: Currency.

Post by newcastle » Thu Apr 19, 2018 12:48 pm

crewmeal wrote:Newcastle - your figures are so accurate. I can't think of a way around this to get better value. I wonder if I order dollar to dollar I might get a better rate through the banks here. I'll see what happens next time.
If you can pay at UK end in $ and the recipient receives $ in Egypt you should avoid crazy exchange rates..but WU will still want their 5%.

Have you looked at other money transfer systems?

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Re: Currency.

Post by crewmeal » Thu Apr 19, 2018 4:26 pm

Not yet. However I'm open to suggestions please.

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Re: Currency.

Post by crewmeal » Sat May 05, 2018 6:05 am

Now ithe £ is in reverse thanks to our wonderful economists who couldn't forecast a p**s up in a Luxor Brewery.

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Re: Currency.

Post by steve » Fri May 25, 2018 4:52 pm

I would suggest that the story of they can't exchange 1 dollar notes but can change 5 dollar notes is in an effort to get 5 dollars rather than 1 dollar.
I'm told some people put manure on their rhubarb. I prefer custard!

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Re: Currency.

Post by crewmeal » Wed Jun 20, 2018 2:16 pm

The pound is slipping even more now 25.47 = £1. I hope it recovers in time for my holiday next month.

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