The Central Bank of Egypt (CBE) is resuming on Tuesday morning its issuing of tenders for dollar sales to banks after the Eid Al-Fitr holiday.
The CBE currently issues tenders for dollar sales to banks thrice weekly, on Sundays, Tuesdays, and Thursdays. Through these tenders, the CBE also controls the dollar prices in banks and exchanges operating in the Egyptian market.
Last Thursday, the CBE fixed the dollar price against the Egyptian pound for the fifth time in a row. The US currency’s price rate at the CBE now stands stable at EGP 7.7301, reaching EGP 7.78 selling and EGP 7.8301 buying at banks. As for the rate at exchanges, it would stabilise at EGP 7.88. The dollar price reached the current level on 5 July after the CBE raised it twice by 10 piasters.
Source: Daily News Egypt