|Anubis, the judge of the dead, fiat money in this case.|
Currency controls are now in place and there is a ban on traveling with more than $10,000 in cash. Egyptian officials are becoming worried as savings account withdrawals increase in the face of a depreciating pound and public rumors of central bank confiscation of deposits.
On Tuesday, Presidential spokesperson Yasser Ali confirmed the government’s decision which limits all travelers from “bringing foreign currency into the country or carrying it out to only $10,000.” Ali added that “any funds over US$10,000 must be transferred electronically” and the decision also forbids sending cash through the mail.
Previously under the original law, any amounts above $10,000 or their equivalent in foreign currencies simply had to be declared to authorities.