Abstract: | As a result of the 'open door' policy adopted by Egypt in 1973, a Law No 97 of 1976 regulating transactions in foreign currencies was enacted. The effects of this law on monetary payments in a foreign currency was not clear. This article discusses the rules applicable to the monetary payments under the general principles of Egyptian Law and examines the extent to which these rules may have been affected by the new law. Conclusion: the clauses stipulating payment in gold or foreign currency will be null and void without distinction between internal and international transactions. The clauses stipulating a payment in Egyptian currency but based on the values of gold or of a foreign currency are valid. Notes. |