Business tycoon and Orascom Telecom Media and Technology chairperson Naguib Sawiris commented on the Central Bank of Egypt’s (CBE) decision to float the price of the national currency, saying that it is an excellent, albeit belated, move.

Sawiris encouraged Egyptians to not buy US dollars unless needed. He called on the Egyptian people to stand together to ensure that the CBE’s move to float the Egyptian pound is a success.

“Speculation will be a betrayal,” he emphasised.