CBE Offers Banks in Egypt $40 mln at FX Auction Today

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 Wednesday its 110th FX Auction since application and the 92nd since Hisham Ramez hold the office as the CBE’s Governor last February.

Hence, the CBE has pumped US$ 4.360 billion through its periodic FX Auctions on Mondays, Wednesdays and Thursdays, in addition, CBE had also raised two exceptional FX Auctions totaled at US$ 2.9 billion divided into two FX Auctions, issued last April and May as well as the current September.

The central bank last time offered its FX auction was last Monday, Sept  30th in which the US dollar was sold for EGP 6.88.