CBE Offers Its Last US$ 40 mln FX Auction of this Week

The Central Bank of Egypt (CBE) has offered today its last foreign exchange auction for this week totaled US$ 40 million for local banks. The central bank is offering on Wednesday its 151th FX Auction since Hisham Ramez hold the office as the CBE’s Governor last February worth US$6.490 billion, in addition non-periodic FX Auction worth US$2.7 billion  which issued during the last year by CBE.

US$ dollar prices declined  in the tender of yesterday with two points, registering EGP6.9522 against EGP6.9524 in the last auction of Thursday.

The Central Bank of Egypt (CBE) announced on Monday the country’s foreign cash reserves hit $17.031 billion at the end of December 2013, with a decline of $734 million from $17.765 billion a month earlier.