EGP to MKD

EGP - Egyptian Pound (E£)

Egyptian Pound

The official currency of Egypt is the Egyptian Pound (EGP). The symbol used for the EGP is E£ or in Arabic ( ج.م). The Egyptian Pound is subdivided into smaller currency denomination known as qirsh or millimes. 1 EGP = 100 qirsh = 1000 millemes.

The Egyptian Pound is the currency in Egypt (EG, EGY). The symbol for EGP can be written E. The Egyptian Pound is divided into 100 piasters or 1000 milliemes. The exchange rate for the Egyptian Pound was last updated on May 24, 2019 from Yahoo Finance. The EGP conversion factor has 4 significant digits.

Economy

• The Egyptian economy is becoming more market-orientated.
• The main industries are metal, tourism, chemicals, textiles, pharmaceuticals, light manufacturers, food processing, hydrocarbons, construction, and cement.
• Export products are petroleum and crude oil products, textiles, cotton, agricultural goods, metal products, and chemicals.
• Import products are wood products, fuels, chemicals, equipment, machinery, and food stuffs.
• Unemployment in the country is estimated at 9.7%.
• The yearly GDP growth is rated at 2.6%.

History

• The Egyptian Pound, also known as gineih, was replaced the Egyptian Piastre. The Piastre = 1/100 of a Pound. It was subdivided into 40 para.
• In 1885, the para was taken out of circulation and the piastre was subdivided into tenths. In 1916 the tenths were renamed millimes.
• Egypt used the gold standard from 1885 to 1914. 1 EGP = 7.4375 grams of gold. After the outbreak of World War I, Egypt moved to the British Pound and was part of the Sterling era until 1962. In the same year the EGP switched over to the US Dollar and was pegged at 1 EGP = 2.3 USD.
• In 1973, the peg was changed to the British Pound again.
• In 1989, the Pound floated; however, the Central Bank of Egypt tightly managed the control of foreign exchange.
• In 2005, the 1 Pound and 50 pastrie coins were introduced.
• In 2009, Egypt started phasing out 1 Pound and half-pound notes.

More information about EGP - Egyptian Pound (E£)

MKD - Macedonian Denar (ден)

Macedonian Denar

The Macedonian Denar is the official currency of the former Yugoslav Republic of Macedonia. The exchange rate of the Denar is based on the demand and supply of foreign trade. Money supply and interest rates are dictated by the exchange rate, which is 61 Denars = 1 Euro. With this exchange rate target, Macedonia’s Central Bank has maintained a steady exchange rate for the Denar against the Euro.

The Macedonia Denar is the currency in Macedonia (The Former Yugoslav Republic, MK, MKD). The symbol for MKD can be written MKD. The Macedonia Denar is divided into 100 deni. The exchange rate for the Macedonia Denar was last updated on May 24, 2019 from Yahoo Finance. The MKD conversion factor has 4 significant digits.

Economy

• Macedonia’s economy is currently based on exports of its gas, oil, and machinery.
• Macedonia was considered the least developed of the Yugoslavia Republic states when they became independent in September 1991. Its goods and services had contributed only 5% of the national output.
• The separation from Yugoslavia depressed Macedonia’s protected markets and its transfer of payments from the Yugoslavia government.
• Macedonia’s economic growth was further delayed until the year 1996, due to UN sanctions on the Federal Republic of Yugoslavia and Greek economic restrictions.
• Worker payments and foreign assistance lessened instability during the recovery period. Macedonia’s GDP growth reached 5% in 2000.

History

• On April 26, 1992 the Macedonian Denar was introduced to replace the Yugoslav Dinar at par.
• On May 5, 1993 a new Macedonian Denar was issued; 1 new Denar = 100 old Denar.

More information about MKD - Macedonian Denar (ден)