The Central Bank of Egypt (CBE) has issued EGP 200m worth of new EGP 1 and EGP 0.5 banknotes.
The bank said in a statement on Thursday that it has printed EGP 100m of EGP 1 banknotes and EGP 100m of EGP 0.5 banknotes.
The bank added that these banknotes will be traded with coins in banks.
Data issued earlier by the CBE showed that the value of cash (issued banknotes) in Egypt continued to increase during the first quarter (Q1) of the fiscal year (FY) of 2017.
The CBE’s monthly report shows that the issuance of banknotes rose by EGP 25.8bn during Q1 FY 2016-2017, compared with an increase of EGP 37.3bn the last quarter of the previous FY.
He added that the total issued banknotes amounted to EGP 395.2bn by late September, compared to EGP 369.3bn in June 2016.
The issuance of banknotes increased by EGP 15.8bn of EGP 200 banknotes during July, August, and September, EGP 9.9bn of EGP 100 banknotes, and a total of EGP 210.4bn and EGP 142bn for both banknotes, respectively.