Egypt’s successful crackdown on the black market dollar

Egypt's central bank kept the pound steady at 7.53 to the dollar at a foreign exchange auction on Sunday while the currency strengthened on the black market
Egypt’s central bank kept the pound steady at 7.53 to the dollar at a foreign exchange auction on Sunday while the currency strengthened on the black market

Egypt’s central bank has been cracking down on the black market over the last few months, to help balance the local currency. The currency black market, which has been a thorn in the side of successive governments, has virtually disappeared in the past two months following the crackdown. CCTV’s Yasser Hakim looks at how Egypt managed to contain the dollar’s black market