The Egyptian presidency announced Saturday that new polymer plastic banknotes will be released into circulation by early November. Amer noted that steps are being taken to establish the new banknotes printing house for the CBE, built in the New Administrative Capital. The CBE is reportedly releasing plastic money in 10-pound denominations and put it on the market. Plastic money is made of polymer, which is an anti-spoilage material and has a longer lifespan compared to banknotes. Banknotes have many shortcomings as its condition deteriorates quickly due to being made of paper and having weak resistance to the environment.
