The local currency is the Egyptian pound (LE) which is broken up into 100 Piastres (PT)
As costs go up the Piaster note is not seen so often and a 100LE note has been introduced. This large note and the 50LE note may be a bit hard to change in some of the smaller shops. The most common note being the 20LE and the 10LE. With prices going up a 200LE has just been introduced.

All notes are written in Arabic on one side and English on the other. The notes are also different colors and slightly different sizes.
I do not know what sort of paper the notes are made up from, but they survive the washing machine in one piece. In fact putting some of them through the wash will help.

There is virtually no coins in circulation. They do exist but are of such low denomination they are never used.

There are numerous banks in the area, many in Nama Bay, all offering changing of foreign currency. Most of the larger hotels have small bank outlets for changing money. There are large offices in Sharm which deal mainly with accounts for the local businesses.

Credit cards are accepted in all the larger hotels, shops and restaurants. With Visa / Mastercard being the most popular.

Cash point machines are also very common in Sharm el Sheikh, especially in Naama Bay