RIYADH: Egypt’s foreign money was secure at round 49.5 kilos to the greenback because the market opened on Thursday, a day after the central financial institution let the foreign money plunge and pledged to shift to a extra versatile alternate charge system because the nation secured an expanded $8 billion program with the IMF.
The pound stayed in the identical vary it had settled at close to closing on Wednesday, LSEG knowledge confirmed. Earlier than Wednesday’s devaluation and a steep rate of interest hike, the central financial institution has held the foreign money for a few yr at slightly below 31 kilos to the greenback.
