Cairo: No, Russian tourists cannot use rubles in Egypt

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Central Bank of Egypt (CBE) has flatly denied today Russian RIA Novosti news agency’s report that Egypt is planning to start accepting ruble payments from Russian visitors at the end of this month.

Russia’s official TASS news agency reported on the new development today, citing an unnamed CBE executive.

“It is impossible to use the Russian ruble in Egypt and we don’t know about specific plans to introduce it into circulation”, bank officer told TASS.

RIA Novosti news agency broke the news yesterday, reporting that the Russian ruble might be included in a list of currencies for payments in Egypt as early as late September.

According to Russian international tour operator Tez Tour, cited by RIA Novosti, Egyptian banks were ready to approve the use of the Russian currency in Egypt in a bid to boost tourism in the North African country.

Russia and Egypt have long been allegedly considering switching to local currencies in trade.

Egypt is one of the most popular destinations for Russian holidaymakers in the fall-winter season, with the number of Russian visitors reaching 1,000,000 in the fourth quarter of 2021.

Currently, Egypt is one of the very few countries remaining ready to welcome Russian visitors, as the European Union states tighten travel rules for Russian citizens over Russia’s brutal invasion of Ukraine.

source: eTN