Egypt’s Central Bank Offers US$ 40 Mln At Monday’s FX Auction

By Administrator On May 27, 2013

The Central Bank of Egypt (CBE) offers US$ 40 million to local banks on Monday at its 60th FX auction and the 44th one since the appointment of Hisham Ramez as governor of CBE.

CBE offered US$ 800 million at an exceptional FX auction to address the needs of banks to finance the import of the essential goods. It cancelled the periodic FX auctions last Wednesday and Thursday. The dollar’s price steadied at EGP 6.9819 for buying and EGP 7.012 for selling.

The central banks offered US$ 1.8 billion at regular FX auctions and US$ 1.4 billion at exceptional FX auctions.