Egypt Suez Canal revenue rises to nearly $400 mln in March

The canal is one of Egypt’s main sources of foreign currency (File Photo: AP)

Revenue for Egypt’s Suez Canal rose to 3.477 billion Egyptian pounds ($396 million) in March from 3.108 billion pounds in February, the Suez Canal Authority said on Tuesday.

Since February it has not published dollar figures for revenues on its website, making monthly comparisons hard to assess after the central bank devalued the pound in March.

The canal is one of Egypt’s main sources of foreign currency. Egypt has been struggling to revive its economy since a 2011 uprising scared away tourists and foreign investors, other main sources of hard currency.

($1 = 8.7700 Egyptian pounds)

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Last Update: Wednesday, 20 May 2020 KSA 09:51 - GMT 06:51
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