The Central Bank of Egypt has put into circulation polymer banknotes with a face value of 10 Egyptian pounds, the Egyptian Gazette reported, BTA reported.

The institution specified that the old paper banknotes with the same denomination will continue to be used as a means of payment.

Egypt's first plastic money has been printed at the printing house in the country's new administrative capital.

They feature the Al Fatah Al Alim Mosque and a statue of the ancient Egyptian pharaoh Hatshepsut, and an anti-counterfeiting watermark.

The Central Bank of Egypt announced its intention to print banknotes from polymer material as early as 2019, but it has been delayed due to the Covid-19 pandemic.

The step is taken in line with Egypt's commitment to meet the requirements of the Paris Climate Agreement.

Polymer money is considered environmentally friendly, as it is waterproof and has a longer life than paper money, and less raw materials are used in its production.

In addition, they can be recycled and put into new plastic products.

Plastic banknotes were first produced in Australia in 1988.

They are currently in circulation in over 30 countries, including Romania, Chile, Canada, Nigeria, Vietnam, New Zealand, etc.

The total value of polymer banknotes put into circulation in Egypt is 2 billion Egyptian pounds.

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