Arab Finance: The Central Bank of Egypt (CBE) refuted reports circulating on social media and websites regarding the issuance of new 25-piastre, 50-piastre, and EGP 1 paper banknotes, according to an official statement.

It clarified that the paper banknotes currently in circulation are from previous issuances and remain legal tender, affirming that they will continue to circulate in the Egyptian market until they reach the end of their operational lifespan and monetary cycle.

All reports relating to the currency issued in the above denominations include the total paper banknotes that have been issued since their introduction, and they are still in circulation today, along with the coins, the CBE explained.

It further noted that any new issuances of the 25-, 50-, and 100-piastre denominations in recent years have been coins only, not paper currency.