Economic

Egypt allows its currency to float freely

“Egypt has floated its currency in a move that has reduced its value by almost 50% against the dollar. One US dollar is buying 13.5-14 Egyptian pounds, up from the nine Egyptian pounds the central bank was trying to keep it at. The country’s central bank said the move was one of a list of reforms designed to strengthen confidence in the economy. Egypt’s main stock index jumped by more than 8% on Thursday.”

Source: Egypt allows its currency to float freely – BBC News

OODA Analyst

OODA Analyst

OODA is comprised of a unique team of international experts capable of providing advanced intelligence and analysis, strategy and planning support, risk and threat management, training, decision support, crisis response, and security services to global corporations and governments.