CBE Offers US$ 50 Mln To Local Banks On Thursday FX Auction
The Central Bank of Egypt (CBE) offers US$ 50 million to local banks on Thursday at its 16th FX auction, with a maximum of US$ 7 million for each bank.
The 16th FX auction brings the amount that CBE offered since launching the new system to US$ 1.07 billion.
CBE launched the FX auction at the beginning of this month in order to slow the country’s depletion of foreign reserves.
The value of dollar registered 6.37 (Sell price) at the beginning of launching this new system and hiked to EGP 6.78 (sell price).
This is the last FX auction before Farouk El-Okdah’s official resignation on Thursday.
The total amounts that CBE has offered in 16 FX auctions are as follows:
|
Date |
Offer Value |
|
Sunday, December 30th, 2012 |
US$ 75 million |
|
Monday, December 31th, 2012 |
US$ 75 million |
|
Wednesday, January 2nd, 2013 |
US$ 75 million |
|
Thursday, January 3rd, 2013 |
US$ 75 million |
|
Sunday, January 6th, 2013 |
US$ 60 million |
|
Tuesday, January 8th, 2013 |
US$ 60 million |
|
Wednesday, January 9th, 2013 |
US$ 50 million |
|
Thursday, January 10th, 2013 |
US$ 50 million |
|
Sunday, January 13th, 2013 |
US$ 75 million |
|
Tuesday, January 15th, 2013 |
US$ 75 million |
|
Thursday, January 17th, 2013 |
US$ 75 million |
|
Sunday, January 29th, 2013 |
US$ 75 million |
|
Tuesday, January 22nd, 2013 |
US$ 75 million |
|
Sunday, January 27th, 2013 |
US$ 50 million |
|
Tuesday, January 29th, 2013 |
US$ 50 million |
|
Thursday, January 31st, 2013 |
US$ 50 million |
|
Total Value |
US$ 1.07 billion |
