hi could anyone advise on where to change my money, should i do it here in the uk or would i get a better rate in Egypt?
You will get about 10% better exchange rate in Egypt.
Just make sure that your UK bank notes are English not Scottish and in good condition, no nicks or tears.Edited: 06 January 2011, 12:33
You will get approx 10% better rate if you exchange Sterling (English notes) for Egyptian pounds once in Egypt. Your first opportunity to do this will be in the arrivals hall of the Egyptian aiport.
The exchange rate at the moment is floating around the £1 = LE9.
For daily rates in Egypt see:
UK Post Office postoffice.co.uk/portal/po/foreignexchange…
Coinmill - generally pretty accurate with the rate received in Egypt http://coinmill.com/
Central Bank of Egypt http://www.cbe.org.eg/
National Bank of Egypt http://www.nbe.com.eg/en/ExchangeRate.aspx
Do NOT change in the UK...rate is very poor...use the banks at Luxor Airport (get your Visa there as well......around £10 per person) .....or any good bank...there are some good ones by the Winter Palace..(happy to give small notes etc)..... ask for plenty of small notes 5LE and 10 LE ones are good for tips ;-)
Rate when we wre there in Dec was 9.2LE =£1
In uk it was around 7.4-8.0 depending who you went to :-((((
In Egypt would be the simple answer.
This is because you will get rates that are much closer to those which banks offer amongst themselves, rather than the tourist rate which you get in the UK, co changing your Sterling into Egyptian Pounds (LE) can get you anywhere from 10 - 12% more Egyptian currency per Pound.
Additionally, where commission is charged on the transaction, Egyptian rates tend to be negligible for cash and about US$5 per traveller's cheque (if you prefer to carry your holiday money in this form).
Bank branches; several of which can be found along the Corniche, tend to offer better rates than bureau de change and have the additional advantage that they do seem to keep quite late hours (I've changed currency at 22:30, at the National Bank of Egypt branch, that's located about 150 - 200 metres south of the Old Winter Palace before now).
Do ATMs give good rates and are they readily available or is it better to take cash to exchange?
Usually we use cash machines to avoid the need to carry large amounts of cash but they probably dispense large denomination notes which may be difficult to get change for and not provide any small notes for tips.
There are plenty of ATM's around but I still find it better to carry cash and change it in Egypt.
When the Nationwide card was free to use abroad I did use the ATM's and found the rates to be quite favourable although I can't be specific on the exact comparison. Once Nationwide started passing on the Visa cost to customers I stopped using it as I had no intention of paying card fees if I could help it. I now only carry cards in the event of a large bill or emergency. As far as I recall the ATMs issued a reasonable selection of notes but it was still neccessary to change some of the larger ones down for very small change ie LE5 & LE1.
As you need relatively little money in Egypt - the exchange rate and prices being so good - I find I don't have to carry so much Sterling with me and anyway hotels will provide safes either in the room or at the front desk.Edited: 06 January 2011, 13:46
The last time we travelled to Luxor, we took Sterling only and cashed it as required at the banks. As has been said, there are normally safes in the rooms or at the reception desk so that you can keep it safe. Here is a link as to what currency is available
Make sure that your Sterling is in good condition with no damage whatsoever, as you may find that damaged notes will be rejected by the teller.
As mentioned, the exchange rate is much better here than in the UK. We changed some money today and the rate was 8.94LE to the pound. It has been ranging from this to about 9.08 for the last couple of weeks.
im doing a 2 week stay in luxor 1st week im cruising on the nile and the 2nd week im staying at the mjv hotel.
have you done the criuse before?
i so is there safes on the boats are do you have to carry your money around with you when you leave the boat to go trips to the temples etc
I think the situation regarding safes on the boats will be like the hotels in that it will vary depending on the boat. Nevertheless, I am sure there will be some facility for safety deposit.