03/11/2020: Economic Impact of COVID-19
The COVID-19 pandemic caused economic disruptions globally, affecting the Egyptian Pound's exchange rate and foreign reserves.
17/10/2019: Protests against economic crisis
Mass protests erupted in Lebanon due to economic crisis, leading to further depreciation of the Lebanese pound.
14/11/1999: Liberalization of Exchange Rate
The Egyptian government implemented a managed float exchange rate system, allowing the Pound to fluctuate based on market forces.
03/11/1997: Revaluation of the Lebanese pound
The Lebanese pound was revalued at a rate of 1,500 LBP = 1 USD, ending the fixed exchange rate with the US dollar.
12/08/1987: Introduction of New Egyptian Pound
A new Egyptian Pound banknote was introduced to combat counterfeiting and improve security features.
01/01/1986: Introduction of the parallel exchange market
The parallel exchange market was introduced in Lebanon, leading to a diverging exchange rate between the official and unofficial markets.
01/01/1976: Lebanese Civil War
The Lebanese Civil War began, causing significant economic instability and devaluation of the Lebanese pound.
14/09/1962: Devaluation of the Pound
The Egyptian government devalued the Pound by 55%, leading to a significant decrease in its value.
01/01/1961: Pegged to the US dollar
The Lebanese pound was pegged to the US dollar at an exchange rate of 1 LBP = 1.5 USD.
23/07/1952: Overthrow of the Monarchy
The Egyptian monarchy was overthrown, leading to political and economic changes that affected the value of the Egyptian Pound.
27/11/1941: Devaluation of the Lebanese pound
The Lebanese pound was devalued by 41.9% following the breakup of the French franc.
01/10/1920: Lebanese pound introduced
The Lebanese pound was introduced at a fixed exchange rate of 1 pound = 20 French francs during the French mandate period.
02/05/1885: Establishment of Central Bank of Egypt
The Central Bank of Egypt was established to regulate the currency and banking system in Egypt.
29/07/1834: Introduction of Egyptian Pound
The Egyptian Pound was introduced as the official currency of Egypt, replacing the piastre.