CBE Offers US$75 Mln To Local Banks On Thursday FX Auction
The Central Bank of Egypt (CBE) offers US$75 million to local banks at its 3rd foreign currency auction this week, with a maximum of US$11 million for each bank.
This is the 11th FX auction that CBE has launched, in order to slow the country’s depletion of foreign reserves. The total amount that CBE has offered since launching the new system in December 30th 2012 reached US$ 745 million.
CBE decided to reduce the number of FX auctions to three auctions this week, instead of daily auctions, so as to curb the negative impact of these auctions on the Egyptian pound against US dollar.
The total amounts that CBE has offered in 11 FX auctions are as follows:
|
Date |
Value In Million US Dollar |
|
Sunday, December 30th, 2012 |
75 |
|
Monday, December 31th, 2012 |
75 |
|
Wednesday, January 2nd, 2013 |
75 |
|
Thursday, January 3rd, 2013 |
75 |
|
Sunday, January 6th, 2013 |
60 |
|
Tuesday, January 8th, 2013 |
60 |
|
Wednesday, January 9th, 2013 |
50 |
|
Thursday, January 10th, 2013 |
50 |
|
Sunday, January 13th, 2013 |
75 |
|
Tuesday, January 15th, 2013 |
75 |
|
Thursday, January 17th, 2013 |
75 |
|
Total Value |
745 |
