Egypt C.Bank Offers $40 Mln FX Auctions For Local Banks

By Salma Ayman On Jul 11, 2013

The Central Bank of Egypt (CBE) has offered US$ 40 million to the local banks at its 79^th foreign exchange auction By the end of the last year and 62 FX Auctions since Hisham Ramez hold the office of the CBE’s Governor last February.

CBE has pumped $ 2.5 billion through periodic FX Auctions on Mondays, Wednesdays and Thursdays, in addition, CBE had also raised two exceptional FX Auction totaled at US $ 1.4 billion divided into two FX Auctions, one on 15th April worth US$ 600 million and another on 22nd May at value of US$ 800 million.

Moreover, US dollar reached EGP 7.0093 during CBE last FX auction, whilst in the official marker US dollar stood at EGP7.0584.

Banks Central Bank of Egypt (CBE)FX Auctions Hisham Ramez local banks the CBE’s Governor