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Russia includes the Egyptian pound in the list of foreign currencies, which may lead to a billet trade increase

Russian Central Bank announced setting the official rates of the ruble against nine other foreign currencies, including the Egyptian pound, the UAE dirham, the Qatari riyal, the Thai baht, the Vietnamese dong, the Serbian dinar, the New Zealand dollar, the Georgian lari, and the Indonesian rupiah.

The new decision will allow Egypt and Russia to use the ruble and the pound in commercial transactions between the two countries instead of the dollar, as the volume of trade exchange between Egypt and Russia is estimated at $4.7 billion for the year 2021.

Egypt will also benefit from the incoming Russian tourism in obtaining the Russian ruble in trade exchange.

Market sources believe this decision will create an opportunity for the Russian pellet to enter the Egyptian market.

Pellet exports peaked after the Russo-Ukrainian War as importers tried to take advantage of lower prices. However, later, Russia’s exports declined due to the unwillingness of some countries to take risks due to international sanctions.

 

 

 

 

 

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لوريم ايبسوم هو نموذج افتراضي يوضع في التصاميم لتعرض على العميل ليتصور طريقه وضع النصوص بالتصاميم سواء كانت تصاميم مطبوعه لوريم ايبسوم ليتصور طريقه لوريم ايبسوم.

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Arab Iron and Steel Union was established in Algeria in 1972 as the first Arab Union of the Arab countries to be founded under the Council of Economic Unity umbrella in the League of Arab States.

It is the first Arab organization to specialize in the iron and steel field, and its tasks fall within making plans aimed mainly at developing and growing the iron and steel industry in the Arab world.

Arab Iron and Steel Union comprises a wide range of multi-activity companies related to the iron and steel industry from the Arab countries.

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