RWF to EGP

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.

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RWF - Rwandan Franc (RWF)

Rwandan Franc

The Rwandan Franc (RWF), is the authorized tender utilized in Rwanda. The Rwandan Franc is subdivided into a hundred centimes. Banknotes and coins are both used as legal tender for the country.

The Rwandan Franc is the currency in Rwanda (RW, RWA). The symbol for RWF can be written RF. The Rwandan Franc is divided into 100 centimes. The exchange rate for the Rwandan Franc was last updated on May 24, 2019 from Yahoo Finance. The RWF conversion factor has 5 significant digits.

Economy

• Rwanda is a very agricultural-based country with about seventy percent of the inhabitants engaged in farming. Major exports are tea and coffee.
• Despite being land-locked with a high population and minimal resources and industry, Rwanda has been able to make significant progress in rehabilitating and stabilizing its economy.
• The Rwandan economic system relies heavily on farm production of small, semi-subsistence, and fragmented farms.
• By 1994, farm size was was typically less than 1 hectare, whilst inhabitant’s density was greater than 450 individuals per square kilometer.

History

• The Franc became the foreign money of Rwanda in 1916, when Belgium captured the German territory and switched the German East African Rupee for the Belgian Congo Franc.
• Rwanda utilized the Belgian Congo Franc until 1960, when the Burundi and Rwanda Franc was introduced.
• Rwanda commenced issuing the Rwandan Franc in 1964.
• In 1964, banknotes of the Rwanda and Burundi Bank of Emission were overstamped for Rwanda usage only.
• In 1969, aluminum 1 franc coins were launched. In 1970, 2 and ½ francs were also added in aluminum.
• Brass 50 and 20 francs were launched in 1977.
• There is a plan to launch a standard currency, a modern East African Shilling, for 5 East African countries at the start of 2012.

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