C. Bank Offers Its First FX Auction US$40mln of this Week

Big 5

 The Central Bank of Egypt (CBE) has offered today its first foreign exchange auction for this week totaled US$ 40 million for local banks. The central bank is offering on Monday its 201FX Auction with US$8.520 billion, in addition to 5 exceptional auctions worth US$5.3 billion within 2013 and Q1 of 2014.

The price of green paper in CBE’s auction inched by EGP7.1226

The central bank announced that Egypt’s cash foreign exchange reserves hit US$ 75 million registering $17.489 billion at the end of last April.