Egypt considers approving currencies of China, India and Russia to reduce need for dollars – official
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Egypt considers approving currencies of China, India and Russia to reduce need for dollars – official
STOCKS

Egypt considers approving currencies of China, India and Russia to reduce need for dollars – official

 

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Egypt is strongly considering approving the local currencies of its commodity trade partners, including China, India and Russia to try to lessen the need for dollars, Supply Minister Ali Moselhy said.

“We are very, very, very strongly considering to try and import from countries and approve (use of) their local currency with the Egyptian currency,” said Moselhy.

“This hasn’t happened yet but it’s a long journey that we’ve already made progress on, whether with China or India or Russia, but to this moment no deal has been made,” he added.