CBE Offers US$40 mln FX Auction on Monday
The Central Bank of Egypt (CBE) has offered today its foreign exchange auction for this week totaled US$ 40 million for local banks. The central bank is offering on Monday its 145 FX Auction since Hisham Ramez hold the office as the CBE’s Governor last February.
Hence, the CBE has pumped US$ 6.250 billion through its periodic FX Auctions on Mondays, Wednesdays and Thursdays, in addition US$ 2.7 billion through the non-periodic FX Auction, issued last April and May as well as September.
The price of US$ dollar in CBE’s auction registered 6.9282 in the last FX Auction offered by the bank in Thursday December 26th, in which the local banks obtained US$38.6 of the total auctions.
The central bank announced that Egypt’s cash foreign exchange reserves fell by US$ $825 million by the end of last September, registering $17.765 billion, against $18.590 billion at the end of October.
