![]() | This article is rated C-class on Wikipedia's
content assessment scale. It is of interest to the following WikiProjects: | ||||||||||||||||||||
|
![]() Archives ( Index) |
This page is archived by
ClueBot III.
|
I provided extremely good reliable sources (including Encyclopaedia Britannica and the Bank of Egypt itself) for my previous formatting of the article. My reliable sources (including Encyclopaedia Britannica and the Bank of Egypt itself) for my previous formatting of the article. My reliable source references have now been taken out and replaced with informal references that state their claims as fact without providing examples of use outside of the websites themselves, which is second or third hand information at best. This is extraordinarily frustrating. TheCurrencyGuy ( talk) 04:19, 18 July 2022 (UTC)
From what I have been able to gather, "LE" is used in place of "£E" when £ is not available,As I explain next, I suggest that people are misreading the sources to see what they expect to see. -- John Maynard Friedman ( talk) 11:05, 31 July 2022 (UTC)
I deleted an assertion supported only by WP:OR reading of the source
Historically Egyptian postage stamps and some banknotes used a version of this sign, merging £ with E into a single glyph.
The sentence cited the image (right), but the components of glyph are unclear. Yes, it could be interpreted as "merging £ with E". But is far more likely to be a merger of ℒ and ℰ because that is the style used on immediately recent banknotes where they are distinct elements, as on this "One Egyptian Pound" banknote of 1930. It was far too dubious to be left as simply "failed verification", so I have deleted it. -- John Maynard Friedman ( talk) 11:05, 31 July 2022 (UTC)
It will be a real pity if "The Arabic name genēh
[ɡeˈneː(h)] is derived from the British
guinea,
citation needed which was close in value to 100 piastres at the end of the 19th century.
" has to stay out of the article because it can't be cited. I so wanted it to be true, but it does look rather like a spoof! Citation anyone?
John Maynard Friedman (
talk)
22:50, 31 July 2022 (UTC)
MatthewS. boldly reverted all the recent changes, giving as reason that consensus had not been reached. I disagree, given the discussions above. But let's look at the specific changes that are found objectionable:
See also Pound (currency)is far more useful and relevant than
Distinguish Pound sterlingsince there is no credible need for that distinction.
obverse of £200 banknoteis just wrong, a complete clanger. Worldwide, the symbol £ without further distinction means sterling, full stop. You may argue that it should say "Egyptian pounds" rather than LE but, given that previous Egyptian banknotes have used the style "LE" (in various typefaces), a convincing case would be needed to argue is not reasonable to use the most accepted abbreviation.
Ershto
" ersh"Yes, it should be capital E.
£1, £5, £10, £20, £50, £100, £200to use LE instead: see item #2
25pt
v 25 PT
ranks as pretty trivial but no doubt one of you has a citation for your preferred version? But see item #8 below.A contemporary E£1 coinv
A contemporary LE 1 coin: the former is clearly wrong. It is a backronym. LE means Lira Egyptienne. The £ in £E is a modified L as a fashion statement. On the other hand, E£ is a fiction generated by a someone who speaks only English "correcting" it to mean "Egyptian Pound", analogous to (mis)reading GBP as Great British Pound. It is simply illiterate and is not used in Egypt or indeed anywhere that has the first clue what they are doing. Note that Investopedia is not a WP:RS and to cite it is probably a case of Citogenesis.
E£ and £E are also commonly used.Deleted per preceding point. Citation definitely needed for "commonly used"
LE100
v LE 10
. Yes, MatthewS. is correct that the norm in English is no space between the currency symbol and the number ($10, £10, €10). But LE is not a currency sign, it is an abbreviation and in general, Wikipedia accepts national conventions unless it would lead to misunderstanding.
This carefully chosen
Have I covered all the bases? -- John Maynard Friedman ( talk) 18:42, 2 August 2022 (UTC)
Ersh, piaster, piastre, pound, dollar, cent, etc don’t need to be capitalized. No spaces are used between the currency sign and the number following it. These mistakes alone disqualify you as the decider when it comes to currency signage in English. But in all cases, £ does not mean “Sterling” (what’s your source?), it simply means the pound currency as much as $ means dollar. Any dollar. So £ means any pound as well. LE does not stand for “Lira Egyptienne”, in fact it stands for “livre égyptienne”; yet another mistake that disqualifies. I’m sorry by consensus I mean that both sides of the argument (basically me and you guys’ side) must agree to change what was already in place, and that did not happen. So the originally published article stays in place until this is done. That what “consensus” means. It doesn’t mean two people side together and force their edits on the world. MatthewS. ( talk) 19:11, 2 August 2022 (UTC)
I inquire, has the Government of the U.S. ever expended one dollar to support that government? No! with the exception of the U.S. officers in the Territory a little over one year; 20,000 dols. for the erection of public buildings; and 5,000 dols. for a library.
Also, in the English language, there are no spaces after currency signs, LE or E£ or or whatever. This isn’t a matter of “national convention”, it’s simply English language. For example in English we don’t put a space before the question mark (e.g. “What’s your name?”) vs in French for instance where a space is required before a question mark (e.g. “Comment t’appelles tu ?”). So if Daily News Egypt puts a space after LE, Daily News Egypt is mistaken. MatthewS. ( talk) 19:38, 2 August 2022 (UTC)
[edit conflict] MatthewS.:
E£
"is commonly used"Also “commonly used” isn’t exactly accurate so I did remove that phrase. MatthewS. ( talk)
I have made a protection request in response to the unconstructive reversions that are being made. I implore @ MatthewS. to engage in the discussion rather than trying to shunt his preference through like a bulldozer. TheCurrencyGuy ( talk) 23:20, 2 August 2022 (UTC)
I went ahead and requested protection for the original version of the page, because of @TheCurrencyGuy ‘s insistence on changing things without a consensus based solely on his personal preferences. MatthewS. ( talk) 02:23, 3 August 2022 (UTC)
I have tried extremely hard to try to resolve this through discussion. I have to hand it to @ MatthewS., he's determined if nothing else! I only wish he would put his obvious tenacity to better use. I want to clear this up once and for all using facts, not opinion.
Are any of these points in dispute? TheCurrencyGuy ( talk) 04:23, 3 August 2022 (UTC)
I had added citations referencing the Central Bank of Egypt, the CIA World Factbook, the World Bank Style Guide and several others, but these have since been deleted and substituted with random FOREX sites. The sources I cited are reliable sources, the unsourced approximations cited by these FOREX sites are given WP:UNDUE weight by the current form of the article. I referenced this style and noted that it only appears on FOREX websites, but did not give it an equal status to the forms LE and £E, which have verifiable usage by multiple reliable sources, including the currency issuing body itself. I implore @ MatthewS. to actually engage rather than attempt to trigger an edit war. I want to know exactly why you feel more weight ought to be given to a couple of FOREX sites over sources such as the Central Bank of Egypt, the CIA and the World Bank. TheCurrencyGuy ( talk) 02:06, 16 August 2022 (UTC)
I implore @ MatthewS. to engage with me. I have tried extremely hard to do this by many routes. TheCurrencyGuy ( talk) 16:47, 24 August 2022 (UTC)
You took it to disputes and I thought it was resolved. MatthewS. ( talk) 16:48, 24 August 2022 (UTC)
I proved by sources and photos that E£ is in actual current use. You didn’t do that in the case of £E. The CBE only mentions LE which is not in dispute, and the only sources than ever mention £E are at least 100 years old. But I agreed to mention all of those as valid symbols, but you insist on taking E£ out and forcing the other one instead. MatthewS. ( talk) 16:52, 24 August 2022 (UTC)
I won’t give in, if that’s what you’re asking. E£ is here to stay, I provided proof and that’s all that’s needed. Thanks. MatthewS. ( talk) 17:04, 24 August 2022 (UTC)
No, if anything you are the one who’s wanted to “edit war”, I didn’t say that. Who gets banned in this case I wonder? MatthewS. ( talk) 17:07, 24 August 2022 (UTC)
You are threatening to edit war, you haven’t been on Wikipedia as an editor a full six months even, and you are the one imposing personal opinions, not me. MatthewS. ( talk) 17:10, 24 August 2022 (UTC)
I do reply thru the mobile website and for some reason each time as if it starts another thread for some reason, not sure why. No disrespect intended. MatthewS. ( talk) 17:21, 24 August 2022 (UTC)
Currency.—
The expansion project, which will cost an estimated £E 370 million, will add 29,117 square meters of gross leasing space to take its total offering to 62,162 square meters and over 90 additional stores.
The Egyptian Pound (EGP) is the official currency of the Arab Republic of Egypt, as designated by ISO 4217, the International Standard for currency codes, as if it's the ISO that designates currencies as official.
The Egyptian pound's symbol is E£. The currency can also be noted by the symbol LEis odd; it's easy to find LE and L.E. but I only find E£ at Investopedia and online exchange-rate sites, all of which I siuspect of having used Wikipedia per WP:CITOGENESIS.
That sounds fine to me, given the sources currently available. CapitalSasha ~ talk 21:53, 28 August 2022 (UTC)
No I don’t agree. E£ is in current use by websites such as PayPal, Google Hotels, Google Flights, Uber, and have seen it used on paper receipts in Cairo a few times. Other than the 2000 CIA Factbook source (22 years old), and the one DNE article from 2008, the second most recent source provided by TCG is from 1911, more than a hundred years old. I don’t see why this is more reliable than proven current day use of the E£. Under the dispute that was started by TCG, I provided screenshots from PayPal and Google Flights using both E£ and the standalone £ for the Egyptian pound (I added their links to this thread here again). MatthewS. ( talk) 15:18, 1 September 2022 (UTC)
ا 41.233.77.239 ( talk) 05:48, 10 June 2023 (UTC)
There was a misunderstanding in April when I was mistaken for TheCurrencyGuy and my edits to the history section were reverted.The matter has now bee resolved so I have tried as best as possible to restore it. Some minor tweaks may however be necessary. Specialrequestaccount ( talk) 11:52, 23 May 2024 (UTC)
JMF, the relevant references were there before you reverted it all on 12th April. I tried to restore it to the way it had been before you reverted it, but I was unable to do so. Is there a way of going back to the state it was in on 12th April and finding the references? Meanwhile, I'll look at the citation requests and perhaps put in new references. Specialrequestaccount ( talk) 15:31, 24 May 2024 (UTC)
https://books.google.co.uk/books/about/Handbook_of_World_Exchange_Rates_1590_19.html?id=2T7l7Wi2ESsC&redir_esc=y On page 599 a chapter begins about Egypt 1869-14 and all the relevant information can be found there about the historical linkage with the Turkish piastre. If you show me how to insert such a reference, I will study the format and then I should be able to add more references further down the section. Also, how would I post a screenshot of page 599. I do have such a screenshot available. Specialrequestaccount ( talk) 15:59, 24 May 2024 (UTC)
https://www.taylorfrancis.com/books/mono/10.4324/9781315253664/handbook-world-exchange-rates-1590%E2%80%931914-markus-denzel Chapter 32|8 pages Egypt (1869–1914)1 Abstract Sources: The Economist, London (1869-1890); Egyptian Gazette, Alexandria & Cairo (1884, 18931914). Concordance: WdW VIII, pp. 135-167
Currency: The basis of the Egyptian currency in the 19th century was the piastre (kurus) of 40 para. After the Turkish-Egyptian treaty of 1840, the piastre of both Turkish and Egyptian strikes should be equal by value, but the piastre of the Egyptian currency was commonly regarded as being of higher value than the Turkish one (see Chapter 13). Therefore 10 Egyptian piastres were equal to 11 Turkish piastres in Alexandria around the mid-19th century, whereas 10 Egyptian piastres were equal to 11.71 (since 1839) and later on to 11.27 Turkish piastres. In 1834 Egypt adopted the bimetallic standard on the basis of the Marie Theresa thaler, the famous Austrian trade coin for the Levant which was called abu taqa in Egypt, as the main coin unit equal to 20 piastre (confirmed by the Coin Act of 1842 and the government tariff of February 15th 1859). The piastre of 1839 contained 1.146 grammes of fine silver, the piastre of 1801 approximately 4.6 grammes of fine silver. The most important Egyptian coins, the bedidlik in gold (= 100 piastres; 7.487 grammes of fine gold) and the rial in silver (20 piastres; 23.294 grammes of fine silver), were minted since 1836/39 in the wake of the currency reform of December 1835, in force from May 1836. In addition, official money rates were fixed for these foreign coins whose circulation was allowed, but all these coins were undervalued, such as the British sovereign with 97½ piastres. This reform brought little improvement, because “foreign coins circulated much above the tariff rate, their value often fluctuating greatly from one part of the country to another” (OWEN [1969], p. 384). To make the quoting of the exchange rates independent of the devaluations of the Egyptian government, during this decade and those that followed the quotation was either done in Marie Theresa thalers or in piastres Egyptian money, as Egyptian money, both the actually minted Egyptian silver coins and the internationally accepted trade coins were understood, each at their daily price. Due to the pressure imposed by the British occupying power, the fall in silver prices from the end of the 1860s and the unsuccessful coin policy of the Egyptian government led to a currency reform in 1885. So bimetallism was superseded by the gold standard. Based on the model of the British sovereign and the Turkish lira, the Egyptian pound or lira (guinée el maes; 7.4375 grammes of fine gold) of 100 piastres became the basic monetary unit. Pieces of 10 piastres, the so-called Parisi, were minted in silver (11.25 grammes of fine silver) and 20 Egyptian piastres were equal to the 5-francs piece (the so-called real franca) or 1 piastre (1 1/8 grammes of fine silver) was equal to ¼ franc. Therefore the Marie Theresa thaler was fixed at 21 piastres and the sovereign at 97½ piastres as was done since 1835 (cf. ISSAWI [ed.] [1966], p. 523). This decree of November 14th 1885 remained in force even after the period documented here: “On the outbreak of the First World War Egypt shifted to a sterling exchange standard, and the link between the Egyptian pound and sterling was maintained until 1947” (ibid., p. 524). Specialrequestaccount ( talk) 16:05, 24 May 2024 (UTC)
I've just tried to put the source in, but I can't get it right. If someone can fix it please, then I will be able to see the format for the next source. Specialrequestaccount ( talk) 22:33, 24 May 2024 (UTC)
![]() | This article is rated C-class on Wikipedia's
content assessment scale. It is of interest to the following WikiProjects: | ||||||||||||||||||||
|
![]() Archives ( Index) |
This page is archived by
ClueBot III.
|
I provided extremely good reliable sources (including Encyclopaedia Britannica and the Bank of Egypt itself) for my previous formatting of the article. My reliable sources (including Encyclopaedia Britannica and the Bank of Egypt itself) for my previous formatting of the article. My reliable source references have now been taken out and replaced with informal references that state their claims as fact without providing examples of use outside of the websites themselves, which is second or third hand information at best. This is extraordinarily frustrating. TheCurrencyGuy ( talk) 04:19, 18 July 2022 (UTC)
From what I have been able to gather, "LE" is used in place of "£E" when £ is not available,As I explain next, I suggest that people are misreading the sources to see what they expect to see. -- John Maynard Friedman ( talk) 11:05, 31 July 2022 (UTC)
I deleted an assertion supported only by WP:OR reading of the source
Historically Egyptian postage stamps and some banknotes used a version of this sign, merging £ with E into a single glyph.
The sentence cited the image (right), but the components of glyph are unclear. Yes, it could be interpreted as "merging £ with E". But is far more likely to be a merger of ℒ and ℰ because that is the style used on immediately recent banknotes where they are distinct elements, as on this "One Egyptian Pound" banknote of 1930. It was far too dubious to be left as simply "failed verification", so I have deleted it. -- John Maynard Friedman ( talk) 11:05, 31 July 2022 (UTC)
It will be a real pity if "The Arabic name genēh
[ɡeˈneː(h)] is derived from the British
guinea,
citation needed which was close in value to 100 piastres at the end of the 19th century.
" has to stay out of the article because it can't be cited. I so wanted it to be true, but it does look rather like a spoof! Citation anyone?
John Maynard Friedman (
talk)
22:50, 31 July 2022 (UTC)
MatthewS. boldly reverted all the recent changes, giving as reason that consensus had not been reached. I disagree, given the discussions above. But let's look at the specific changes that are found objectionable:
See also Pound (currency)is far more useful and relevant than
Distinguish Pound sterlingsince there is no credible need for that distinction.
obverse of £200 banknoteis just wrong, a complete clanger. Worldwide, the symbol £ without further distinction means sterling, full stop. You may argue that it should say "Egyptian pounds" rather than LE but, given that previous Egyptian banknotes have used the style "LE" (in various typefaces), a convincing case would be needed to argue is not reasonable to use the most accepted abbreviation.
Ershto
" ersh"Yes, it should be capital E.
£1, £5, £10, £20, £50, £100, £200to use LE instead: see item #2
25pt
v 25 PT
ranks as pretty trivial but no doubt one of you has a citation for your preferred version? But see item #8 below.A contemporary E£1 coinv
A contemporary LE 1 coin: the former is clearly wrong. It is a backronym. LE means Lira Egyptienne. The £ in £E is a modified L as a fashion statement. On the other hand, E£ is a fiction generated by a someone who speaks only English "correcting" it to mean "Egyptian Pound", analogous to (mis)reading GBP as Great British Pound. It is simply illiterate and is not used in Egypt or indeed anywhere that has the first clue what they are doing. Note that Investopedia is not a WP:RS and to cite it is probably a case of Citogenesis.
E£ and £E are also commonly used.Deleted per preceding point. Citation definitely needed for "commonly used"
LE100
v LE 10
. Yes, MatthewS. is correct that the norm in English is no space between the currency symbol and the number ($10, £10, €10). But LE is not a currency sign, it is an abbreviation and in general, Wikipedia accepts national conventions unless it would lead to misunderstanding.
This carefully chosen
Have I covered all the bases? -- John Maynard Friedman ( talk) 18:42, 2 August 2022 (UTC)
Ersh, piaster, piastre, pound, dollar, cent, etc don’t need to be capitalized. No spaces are used between the currency sign and the number following it. These mistakes alone disqualify you as the decider when it comes to currency signage in English. But in all cases, £ does not mean “Sterling” (what’s your source?), it simply means the pound currency as much as $ means dollar. Any dollar. So £ means any pound as well. LE does not stand for “Lira Egyptienne”, in fact it stands for “livre égyptienne”; yet another mistake that disqualifies. I’m sorry by consensus I mean that both sides of the argument (basically me and you guys’ side) must agree to change what was already in place, and that did not happen. So the originally published article stays in place until this is done. That what “consensus” means. It doesn’t mean two people side together and force their edits on the world. MatthewS. ( talk) 19:11, 2 August 2022 (UTC)
I inquire, has the Government of the U.S. ever expended one dollar to support that government? No! with the exception of the U.S. officers in the Territory a little over one year; 20,000 dols. for the erection of public buildings; and 5,000 dols. for a library.
Also, in the English language, there are no spaces after currency signs, LE or E£ or or whatever. This isn’t a matter of “national convention”, it’s simply English language. For example in English we don’t put a space before the question mark (e.g. “What’s your name?”) vs in French for instance where a space is required before a question mark (e.g. “Comment t’appelles tu ?”). So if Daily News Egypt puts a space after LE, Daily News Egypt is mistaken. MatthewS. ( talk) 19:38, 2 August 2022 (UTC)
[edit conflict] MatthewS.:
E£
"is commonly used"Also “commonly used” isn’t exactly accurate so I did remove that phrase. MatthewS. ( talk)
I have made a protection request in response to the unconstructive reversions that are being made. I implore @ MatthewS. to engage in the discussion rather than trying to shunt his preference through like a bulldozer. TheCurrencyGuy ( talk) 23:20, 2 August 2022 (UTC)
I went ahead and requested protection for the original version of the page, because of @TheCurrencyGuy ‘s insistence on changing things without a consensus based solely on his personal preferences. MatthewS. ( talk) 02:23, 3 August 2022 (UTC)
I have tried extremely hard to try to resolve this through discussion. I have to hand it to @ MatthewS., he's determined if nothing else! I only wish he would put his obvious tenacity to better use. I want to clear this up once and for all using facts, not opinion.
Are any of these points in dispute? TheCurrencyGuy ( talk) 04:23, 3 August 2022 (UTC)
I had added citations referencing the Central Bank of Egypt, the CIA World Factbook, the World Bank Style Guide and several others, but these have since been deleted and substituted with random FOREX sites. The sources I cited are reliable sources, the unsourced approximations cited by these FOREX sites are given WP:UNDUE weight by the current form of the article. I referenced this style and noted that it only appears on FOREX websites, but did not give it an equal status to the forms LE and £E, which have verifiable usage by multiple reliable sources, including the currency issuing body itself. I implore @ MatthewS. to actually engage rather than attempt to trigger an edit war. I want to know exactly why you feel more weight ought to be given to a couple of FOREX sites over sources such as the Central Bank of Egypt, the CIA and the World Bank. TheCurrencyGuy ( talk) 02:06, 16 August 2022 (UTC)
I implore @ MatthewS. to engage with me. I have tried extremely hard to do this by many routes. TheCurrencyGuy ( talk) 16:47, 24 August 2022 (UTC)
You took it to disputes and I thought it was resolved. MatthewS. ( talk) 16:48, 24 August 2022 (UTC)
I proved by sources and photos that E£ is in actual current use. You didn’t do that in the case of £E. The CBE only mentions LE which is not in dispute, and the only sources than ever mention £E are at least 100 years old. But I agreed to mention all of those as valid symbols, but you insist on taking E£ out and forcing the other one instead. MatthewS. ( talk) 16:52, 24 August 2022 (UTC)
I won’t give in, if that’s what you’re asking. E£ is here to stay, I provided proof and that’s all that’s needed. Thanks. MatthewS. ( talk) 17:04, 24 August 2022 (UTC)
No, if anything you are the one who’s wanted to “edit war”, I didn’t say that. Who gets banned in this case I wonder? MatthewS. ( talk) 17:07, 24 August 2022 (UTC)
You are threatening to edit war, you haven’t been on Wikipedia as an editor a full six months even, and you are the one imposing personal opinions, not me. MatthewS. ( talk) 17:10, 24 August 2022 (UTC)
I do reply thru the mobile website and for some reason each time as if it starts another thread for some reason, not sure why. No disrespect intended. MatthewS. ( talk) 17:21, 24 August 2022 (UTC)
Currency.—
The expansion project, which will cost an estimated £E 370 million, will add 29,117 square meters of gross leasing space to take its total offering to 62,162 square meters and over 90 additional stores.
The Egyptian Pound (EGP) is the official currency of the Arab Republic of Egypt, as designated by ISO 4217, the International Standard for currency codes, as if it's the ISO that designates currencies as official.
The Egyptian pound's symbol is E£. The currency can also be noted by the symbol LEis odd; it's easy to find LE and L.E. but I only find E£ at Investopedia and online exchange-rate sites, all of which I siuspect of having used Wikipedia per WP:CITOGENESIS.
That sounds fine to me, given the sources currently available. CapitalSasha ~ talk 21:53, 28 August 2022 (UTC)
No I don’t agree. E£ is in current use by websites such as PayPal, Google Hotels, Google Flights, Uber, and have seen it used on paper receipts in Cairo a few times. Other than the 2000 CIA Factbook source (22 years old), and the one DNE article from 2008, the second most recent source provided by TCG is from 1911, more than a hundred years old. I don’t see why this is more reliable than proven current day use of the E£. Under the dispute that was started by TCG, I provided screenshots from PayPal and Google Flights using both E£ and the standalone £ for the Egyptian pound (I added their links to this thread here again). MatthewS. ( talk) 15:18, 1 September 2022 (UTC)
ا 41.233.77.239 ( talk) 05:48, 10 June 2023 (UTC)
There was a misunderstanding in April when I was mistaken for TheCurrencyGuy and my edits to the history section were reverted.The matter has now bee resolved so I have tried as best as possible to restore it. Some minor tweaks may however be necessary. Specialrequestaccount ( talk) 11:52, 23 May 2024 (UTC)
JMF, the relevant references were there before you reverted it all on 12th April. I tried to restore it to the way it had been before you reverted it, but I was unable to do so. Is there a way of going back to the state it was in on 12th April and finding the references? Meanwhile, I'll look at the citation requests and perhaps put in new references. Specialrequestaccount ( talk) 15:31, 24 May 2024 (UTC)
https://books.google.co.uk/books/about/Handbook_of_World_Exchange_Rates_1590_19.html?id=2T7l7Wi2ESsC&redir_esc=y On page 599 a chapter begins about Egypt 1869-14 and all the relevant information can be found there about the historical linkage with the Turkish piastre. If you show me how to insert such a reference, I will study the format and then I should be able to add more references further down the section. Also, how would I post a screenshot of page 599. I do have such a screenshot available. Specialrequestaccount ( talk) 15:59, 24 May 2024 (UTC)
https://www.taylorfrancis.com/books/mono/10.4324/9781315253664/handbook-world-exchange-rates-1590%E2%80%931914-markus-denzel Chapter 32|8 pages Egypt (1869–1914)1 Abstract Sources: The Economist, London (1869-1890); Egyptian Gazette, Alexandria & Cairo (1884, 18931914). Concordance: WdW VIII, pp. 135-167
Currency: The basis of the Egyptian currency in the 19th century was the piastre (kurus) of 40 para. After the Turkish-Egyptian treaty of 1840, the piastre of both Turkish and Egyptian strikes should be equal by value, but the piastre of the Egyptian currency was commonly regarded as being of higher value than the Turkish one (see Chapter 13). Therefore 10 Egyptian piastres were equal to 11 Turkish piastres in Alexandria around the mid-19th century, whereas 10 Egyptian piastres were equal to 11.71 (since 1839) and later on to 11.27 Turkish piastres. In 1834 Egypt adopted the bimetallic standard on the basis of the Marie Theresa thaler, the famous Austrian trade coin for the Levant which was called abu taqa in Egypt, as the main coin unit equal to 20 piastre (confirmed by the Coin Act of 1842 and the government tariff of February 15th 1859). The piastre of 1839 contained 1.146 grammes of fine silver, the piastre of 1801 approximately 4.6 grammes of fine silver. The most important Egyptian coins, the bedidlik in gold (= 100 piastres; 7.487 grammes of fine gold) and the rial in silver (20 piastres; 23.294 grammes of fine silver), were minted since 1836/39 in the wake of the currency reform of December 1835, in force from May 1836. In addition, official money rates were fixed for these foreign coins whose circulation was allowed, but all these coins were undervalued, such as the British sovereign with 97½ piastres. This reform brought little improvement, because “foreign coins circulated much above the tariff rate, their value often fluctuating greatly from one part of the country to another” (OWEN [1969], p. 384). To make the quoting of the exchange rates independent of the devaluations of the Egyptian government, during this decade and those that followed the quotation was either done in Marie Theresa thalers or in piastres Egyptian money, as Egyptian money, both the actually minted Egyptian silver coins and the internationally accepted trade coins were understood, each at their daily price. Due to the pressure imposed by the British occupying power, the fall in silver prices from the end of the 1860s and the unsuccessful coin policy of the Egyptian government led to a currency reform in 1885. So bimetallism was superseded by the gold standard. Based on the model of the British sovereign and the Turkish lira, the Egyptian pound or lira (guinée el maes; 7.4375 grammes of fine gold) of 100 piastres became the basic monetary unit. Pieces of 10 piastres, the so-called Parisi, were minted in silver (11.25 grammes of fine silver) and 20 Egyptian piastres were equal to the 5-francs piece (the so-called real franca) or 1 piastre (1 1/8 grammes of fine silver) was equal to ¼ franc. Therefore the Marie Theresa thaler was fixed at 21 piastres and the sovereign at 97½ piastres as was done since 1835 (cf. ISSAWI [ed.] [1966], p. 523). This decree of November 14th 1885 remained in force even after the period documented here: “On the outbreak of the First World War Egypt shifted to a sterling exchange standard, and the link between the Egyptian pound and sterling was maintained until 1947” (ibid., p. 524). Specialrequestaccount ( talk) 16:05, 24 May 2024 (UTC)
I've just tried to put the source in, but I can't get it right. If someone can fix it please, then I will be able to see the format for the next source. Specialrequestaccount ( talk) 22:33, 24 May 2024 (UTC)