Will evaluating the Egyptian pound against ruble affect the price of the dollar in Egypt?

The Central Bank of Russia has announced on Wednesday the official rates of the ruble against nine other foreign currencies.

The Russian Central Bank has listed a number of currencies as of January 18 for evaluation against the Russian ruble.

These include the Egyptian pound, the European dirham, the Thai Baht, the Vietnamese dong, the Serbian dinar, the New Zealand dollar, the Georgian lari, the Indonesian rupiah and the Qatari riyal.

The list of foreign currencies to be evaluated against the ruble was gathered by the Russian TASS agency. 

An economist said in an exclusive statement to Al-Masry Al-Youm that listing the Egyptian pound to be evaluated against the Russian ruble comes within the framework of the government’s plans to reduce demand for the dollar.

Experts have explained upon anonymity, that the step will contribute to reducing the need for the US dollar in settling commercial transactions with Russia.

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