CBE Offers Its Last FX Auction Worth $40 mln for This Week

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 141FX Auction since Hesham Ramez hold the office as the CBE’s Governor last February.

Hence, the CBE has pumped US$ 6.090 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 announced that Egypt’s cash foreign exchange reserves hit US$ $825 million by the end of last September, registering $17.765 billion, against $18.590 billion at the end of October.