VEF to EGP
Currency conversion rates from VEF to EGP
|1 VEF||1 EGP|
|5 VEF||5 EGP|
|10 VEF||10 EGP|
|20 VEF||20 EGP|
|50 VEF||50 EGP|
|100 VEF||100 EGP|
|250 VEF||250 EGP|
|500 VEF||500 EGP|
|1000 VEF||1000 EGP|
|2000 VEF||2000 EGP|
|5000 VEF||5000 EGP|
|10000 VEF||10000 EGP|
|1 EGP||1 VEF|
|5 EGP||5 VEF|
|10 EGP||10 VEF|
|20 EGP||20 VEF|
|50 EGP||50 VEF|
|100 EGP||100 VEF|
|250 EGP||250 VEF|
|500 EGP||500 VEF|
|1000 EGP||1000 VEF|
|2000 EGP||2000 VEF|
|5000 EGP||5000 VEF|
|10000 EGP||10000 VEF|
EGP - Egyptian Pound (E£)
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.
- 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%.
- 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.
VEF - Venezuelan Bolívar (Bs.)
The Bolívar Fuerte has been the official currency of Venezuela since January 1, 2008. It is subdivided into 100 céntimos and replaced the Bolivar at the rate of Bs.F. 1 = Bs. 1,000 due to inflation.
The Venezuelan Bolivar Fuerte is the currency in Venezuela (VE, VEN). The Venezuelan Bolivar Fuerte is also known as Bolivars, and Bolívar. The symbol for VEF can be written Bs. F. The Venezuelan Bolivar Fuerte is divided into 100 centimos. The exchange rate for the Venezuelan Bolivar Fuerte was last updated on August 23, 2018 from Bloomberg. The VEF conversion factor has 4 significant digits.
- The economy of Venezuela is largely based on the petroleum sector, which accounts for roughly a third of the GDP, around 80% of total exports, and more than half of government operating revenues.
- Venezuela is the fifth-largest member of OPEC by oil production.
- From the 1950s to the early 1980s the Venezuelan economy experienced a steady growth that attracted many immigrants.
- During the collapse of oil prices in the 1980s the economy contracted. With high oil prices and rising government expenditures, Venezuela's economy grew by 9% in 2007, but was expected to shrink by 2.9% in 2009 and further in 2010.
- Venezuela has one of the highest inflation rates in the world, averaging 29.1% in 2010, according to the CIA world fact book.
- The Bolivar was adopted by the monetary law of 1879, replacing the short-lived venezolano at a rate of 5 Bolivares = 1 Venezolano.
- Initially, the Bolívar was on the silver standard, equal to 4.5 g fine silver, following the principles of the Latin monetary union. The monetary law of 1887 made the gold Bolívar unlimited legal tender, and the gold standard came into full operation in 1910.
- Venezuela went off the gold standard in 1930, and in the 1934 the Bolívar exchange rate was fixed in terms of the US Dollar at a rate of 3.914 Bolivares = 1 USD.
- In 1937, it was revalued to 3.18 Bolivares = 1 USD, a rate which lasted until 1941.
- Until February 18, 1983, now called Black Friday by many Venezuelans, the Bolívar had been the most stable and internationally accepted currency.