Egypt: Dollar limits leave Egyptian expats, tourists on tightrope

By Hatem Maher
Posted on Friday, 13 January 2023 13:51

Egyptian pounds and US dollars banknotes. (Photo by Khaled DESOUKI / AFP)

Severe limits on foreign currency purchases and withdrawals were introduced by Egypt's Central Bank to mitigate a hard currency crisis, catching Egyptian expats and tourists off-guard and leaving them struggling to cover their expenses overseas.

Laila Taha, an Egyptian bachelor student, felt “trapped” when she visited Germany in November after running low on cash while her credit card stopped after reaching a tight limit imposed by her local bank.

“The card limits are a joke. We felt the pity of the restaurant owners and hotel receptionists because our cards would get declined even before reaching the limit,” Taha tells The Africa Report.