RUSSIAN RUBLE ADOPTION IN EGYPT’S TOURISM SECTOR IS DENIED

Mon 12 September 2022:

An adviser to the Central Bank of Egypt (CBE) has denied issuing a circular announcing the use of the Russian ruble instead of the US dollar, local media reported.

This came after the head of the Egyptian Parliament’s Tourism Committee, Nora Ali, was quoted by Egyptian media as praising the Central Bank’s decision to adopt the use of the Russian ruble in the list of major currencies used in local banks.

Local newspapers yesterday quoted informed banking sources denying receiving a circular or instructions from the CBE in this regard.

While Hisham Ezzal-Arab, an adviser to the CBE’s governor, asked: “Have you read it on the Central Bank’s page?” indicating that news about the decision is wrong.

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