News and Opinion: September 12, 2022. Egypt Will Accept Payments in Rubles

By the end of September, the Russian ruble may be accepted as a means for payment in Egypt. This move will have an impact in the tourism industry. Many Russians choose Egypt as a travel destination

Russians like to travel to the resorts in the Red Sea. This happens specially during the hard Russian winter. More than 1 million Russians visited Egypt in the last quarter of 2021.

This measure will contribute to the de-dollarization of the world economies.

For further information, read this article

This post is intended to only raise awareness. In order to make actual financial decisions please contact your financial advisor and/or tax advisor prior to making the decision.