Egypt produces $1.89mln worth of coins per month - MoF

The production capacity of denomination coins has increased by 50%

  
An employee counts Egyptian pounds in a foreign exchange office in central Cairo, Egypt, November 3, 2016. Image used for illustrative purpose.

An employee counts Egyptian pounds in a foreign exchange office in central Cairo, Egypt, November 3, 2016. Image used for illustrative purpose.

REUTERS/Mohamed Abd El Ghany

Cairo - Mubasher: The production capacity of denomination coins has increased by 50% to settle at EGP 30 million per month starting January, the Egyptian Ministry of Finance (MoF) announced on Monday.

The ministry confirmed that the Egyptian Mint Authority has large metal coin reserves, and additional coins have been pumped into the Egyptian market on the occasion of Eid Al Fitr.

Meanwhile, the head of the Mint Authority, Hossam Khedr, noted that the production line of coins has not been affected by the decrease in the number of workers as part of the precautionary measures taken by the country to contain coronavirus (COVID-19).

Source: Mubasher

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