The global network has added the Egyptian pound to the list of accepted currencies for Facebook ads.
A couple of years ago, your business didn't really exist if it didn’t have a Facebook page. Things have changed today, as having presence in the ubiquitous parallel universe of a timeline requires some ‘boosting’ – both metaphorically and literally, as the network keeps changing the algorithms that define what we see and what we don’t.
Even though the payment method was user-friendly and easy to understand, Egyptian companies and advertisers had been struggling to make payments in US dollars for the past six months, due to the aggressive spending cap on dollars implemented by the Egyptian Central Bank. But in a move to allow payments in different currencies, the network has now added the Egyptian pound to its accepted currencies, allowing users to pay for Facebook ads in the local currency, a transaction that was not previously available.
The new Facebook method foresees that, by choosing a different currency, a new ad account has to be created, while the former account will be closed, although still visible. On the other hand, the ads created with the old account will stop running.