Exchange rate liberalisation proves economic boon

Four years have passed since the Central Bank of Egypt (CBE) decision to liberalise the exchange rate on 3 November 2016. It was described as the boldest decision the CBE has ever made.

According to experts, the move succeeded in restoring the international investment community's confidence in the Egyptian economy, which was reflected in the volume of foreign cash flows to the country. It also improved the local economy's rankings at international institutions, and contributed to Egypt's superiority over all emerging economies.