The Central Bank of Egypt on Sunday unveiled the new rainbow-colored designs for ten and twenty-pound plastic currency notes, with users on social media such as Twitter unamused by the colorful currency.
Several informed sources assured that these rainbow colors serve a purpose to prevent counterfeiting.
The sources stated that the new plastic money will reduce the costs of printing the traditional currency, as it is made of polymer that is harmless to the environment and has twice the lifespan of the paper currency.
An official source with the Central Bank of Egypt assured that the models circulated for pictures of plastic currency are preliminary and not the final designs.
Speaking to the Middle East News Agency, the source stated that the currency designs in circulation is one of several models that are now being designed for plastic currencies, which are scheduled to be put on the market before the end of this year.
Actor Nabil al-Halafawy commented on the issue when asked for his opinion on Twitter, saying: “This step towards plastic money was long overdue. The wear and dirt of small banknotes was a disgrace to the Egyptian currency.”