CBE Offers $40 mln at 104th FX Auction

The Central Bank of Egypt (CBE) has resumed its first foreign exchange auction FX Auction for buying and selling US$ and offering $ 40 million to the local banks of its second auction this week. the central bank is offering today its 104th FX Auction since application and the 87th since Hisham Ramez hold the office as the CBE’s Governor last February.

Hence, the CBE has pumped US$ 4.160 billion through its periodic FX Auctions, as well as US$ 2.9 billion through non-periodic FX Auction that issued last April and May as well as the current September.

The central bank last time offered its FX auction was last Monday 16th September, in which the bank was sold $ 38.6 million.