The Central Bank of Egypt clarifies the reality of the plastic coins in circulation

Monday, 02 August 2021
The Central Bank of Egypt: Plastic money will not cancel dealing with paper currencies The Central Bank of Egypt: Plastic money will not cancel dealing with paper currencies The Central Bank of Egypt: This is the true form of the plastic currency

#Vision, Dubai United Arab Emirates:- The Central Bank of Egypt said that, with reference to the pictures circulating on news sites and social media of the new “polymer” coins, denominations of ten and twenty pounds, the Central Bank of Egypt confirms that the circulated models have not been approved definitively and that they are still in the process of development and modification.

As for the multiple colors on one of the coin models in circulation, the Central Bank clarified that it is not part of the currency design and does not appear on it in nature, but it is a modern watermark that is universally recognized as one of the latest technologies for securing printed currencies, as when moving the new currency in the sunlight it appears only One or two of the colors included in the watermark make it very difficult to counterfeit.

The new coins are made of polymer material and have many advantages compared to traditional paper currencies, such as their longevity, durability, and they are not easily damaged or deformed, and they are made of environmentally friendly and recyclable materials, in addition to being resistant to moisture, water and microbes and therefore are Less susceptibility to microbes and viruses.

In terms of security factors, the new coins comply with the highest security standards used in printing money in the world, making them extremely difficult to counterfeit, especially with sophisticated watermarks that are impossible to counterfeit.

On the occasion of the imminent launch of new polymer currencies on the market, the Central Bank of Egypt reiterates that all paper currencies will continue to be valid without exception, and that there is absolutely no truth in what was circulated about canceling dealing with some paper denominations in conjunction with the issuance of their counterpart made of polymer.

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