Egypt and China sign agreements to support settlements in local currencies, bypassing the US dollar.

The claim that Egypt and China have signed agreements to support settlements in local currencies, bypassing the US dollar, is largely supported by recent developments and reports.china.aiddata.orgchina.aiddata.orgProject explicitly states that Egypt is moving to settle trade with China, Russia, and India in local currencies, ditching the US dollar. This aligns with broader regional and international trends toward de-dollarization, especially among BRICS nations, as discussed in,foreignpolicy.comforeignpolicy.comChina Is Quietly Trying to Dethrone the Dollarthetricontinental.orgthetricontinental.orgFrom De-Risking to De-Dollarisation: The BRICS Currency and the Future of the... and 7.

While there is no direct mention of a formal signed bilateral currency swap agreement between Egypt and China in the provided sources (unlike the clear example of China-Saudi Arabia in), there are indications of ongoing discussions and moves toward such arrangements.china.aiddata.orgchina.aiddata.orgProject notes that central banks participate in agreements to facilitate bilateral trade settlements using national currencies rather than the US dollar.

The overall context from multiple sources shows a concerted effort by China and its partners, including Egypt, to reduce reliance on the US dollar for trade settlements. However, the absence of a direct official announcement or detailed report on a finalized Egypt-China currency swap agreement means the claim is mostly true but not fully confirmed as a formal signed agreement at this time.