CBE Offers $40mln FX Auction for Local Banks on Monday

The Central Bank of Egypt (CBE) has offered today its second foreign exchange auction for this week totaled US$ 40 million for local banks. The central bank is offering on Thursday its 124 FX Auction since application and the 106th  since Hesham Ramez hold the office as the CBE’s Governor last February.

Hence, the CBE has pumped US$5.400 billion through its periodic FX Auctions on Mondays, Wednesdays and Thursdays, in addition, 2.7 billion through the non-periodic FX Auction , issued last April and May as well as the current September.

The central bank has offered its last US Dollar FX Auction at the end of the last week worth $40 million , in which the banks have covered $38.8 million.