CAIRO: Egypt’s currency bureaus are being overwhelmed by demand for dollars amid a supply shortage fuelled by political crisis, the head of the foreign exchange department at the Chambers of Commerce said.
Mohamed el-Abyad said foreign exchange offices can only supply 20 percent of the dollars for which they receive orders.
He told Reuters in an interview that with the dollar shortage there is a semi-halting of their operations.
More than two years of political instability following the overthrow of President Hosni Mubarak in 2011 has triggered a flight into dollars and disrupted foreign investments.
The currency crisis has also driven some dealers into the streets in search of people with dollars to sell, spawning a new black market.