Cabinet denies issuing EGP 500 banknote

CAIRO, 28 Jan 2018: The Cabinet media center has dismissed as groundless social media reports on the circulation of a banknote of EGP 500 category issued by the Central Bank of Egypt (CBE).

In a statement Monday, the center said it contacted CBE which, in turn, affirmed that no banknotes of such categories had been issued and there is no intention to issue it in the future.

It appealed to media outlets and social media users to be accurate and objective in dealing with such reports which would negatively affect the country's economic conditions