CBE Offers US$40 mln at FX Auction
The Central Bank of Egypt (CBE) offers today its second foreign exchange auction for this week worth US$ 40 million for local banks.
The central bank has offered on Wednesday its 131st FX Auction since application and the 113th since Hesham Ramez hold the office as the CBE’s Governor last February.
Hence, the CBE has pumped so far US$ 5.680 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 FX Auction on Monday, November 25th at value of $40 million , in which the banks have covered $38.8 million and the US dollar’s was sold for EGP 6.87.
The central bank announced that the foreign exchange reserves hit US$ 18.590 billion by the end of last September, against US$ 18.709 billion by the end of last August, down US$ 119 million.
