Egypt's currency steadies after devaluation, IMF deal

After months of protracted talks, Egypt finally sealed an expanded 8 billion U.S. dollar loan programme with the International Monetary Fund. Egypt's central bank also announced a shift to a more flexible exchange rate. The Egyptian pound closed at 49.5 to the U.S. dollar on Thursday. The bank had held the currency at just under 31 pounds to the dollar for about a year.

Subscribe to us on YouTube: http://ow.ly/Zvqj30aIsgY

Follow us on:

Facebook: Facebook: cgtnafrica
Twitter: Twitter: cgtnafrica
Instagram: Instagram: cgtn_africa

• #news_politics
• #africa
• #news
• #cgtn_africa