No, I am not talking about the election. Who wants to talk about that? I’m talking money. Specifically, Egyptian money. Bills smaller than a 50 or 100 pound note are in short supply in Egypt. When you buy something if you give the clerk some amount that requires they give change in 20s or 10s, they will be reluctant to hand it off. They might ask you to give them some amount that allows them to hand you back a 50. And they’ll do it in Arabic so if you’re me, you’re lost. For the first couple of weeks we were here there were at least 5 times when one of us was given a “free” pack of Oreos or some candy with our purchase. I noticed the person in front of me did not get one. I wondered if we had stumbled upon another piece of American privilege (“Please come back again! Bring more tourists! We have pyramids AND cookies!”), or maybe they just thought I was cute. Uh-huh. That’s totally it. Then my friend B burst my bubble by telling me they do that because it’s equal to the change they need to give you but don’t have in the drawer (usually 1 pound).
If this Oreos-for-change thing keeps happening, I know right where you’ll be able to find the pounds. I also once got hot peppers for change. True story. Anyway, since small bills are scarce people hold them as long as they can, which just makes the problem worse. Also, the 5s are totally torn up from over circulation and some merchants won’t take them. Again, making the problem worse. I don’t get why the government doesn’t just print fewer 100s and more 20s. There is probably some complex economic explanation that I don’t get because a Bachelor of Fine Arts degree does not require Micro- or Macroeconomics. I took History of Christianity. WAY more interesting. On a serious note, on Thursday Egypt free floated the pound instead of continuing to regulate the exchange rate. The hope is that in about a year this will have a positive impact on the overall economy, but in the short term it is likely to be very tough on the average Egyptian family. For a better understanding of some of the country's current problems, read the news links below. And please pray for Egypt. - Jenni "Egypt free floats its currency, devaluing it against the dollar." Egypt response to small change shortage Egypt sugar shortage
0 Comments
Leave a Reply. |