Ahead of introducing new polymer bills into the Egyptian market, the Central Bank of Egypt confirmed that all paper currency will remain valid, without exception. In a statement, the Central Bank denied rumors that it would cancel some paper denominations in conjunction with the issuance of their polymer counterparts. According to the bank, the new polymer currency will contain, as a security feature, watermarks that only appear when moved under sunlight. The Central Bank added that the new models appearing in photos on the web are not the final version that will be released, in response to major criticism from social media users. The bank further clarified that the rainbow design that appeared on the bills is not part of the design, but rather a secure watermark feature.

Source: Egypt Independent August 03, 2021 10:07 UTC