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

The Central Bank of Egypt (CBE) has offered today its final foreign exchange auction for this week totaled US$ 40 million for local banks. The central bank is offering on Thursday its165th FX Auction since Hisham Ramez hold the office as the CBE’s Governor last February.

Since application, the CBE pumped US$ 7.060 billion through its periodic FX Auctions on Mondays, Wednesdays and Thursdays, in addition, 4.2 billion through 4 periodic auctions.

The central bank has offered its last FX Auction on Wednesday, February 19th worth $ 40 million, in which the US dollar hit EGP 6.9512.

The Central Bank of Egypt (CBE) announced on Monday the country’s foreign cash reserves hit US$17.104 billion during January 2014, an increase of US$73 million, from US$17.031 billion at the end of December 2013.