Egypt C.Bank Offers US$ 40 Mln At Thursday’s FX Auction

By Yomna Yasser On Jul 18, 2013

The Central Bank of Egypt (CBE) has offered its last FX Auction for this week which worth $ 40 million for local banks at its 82^nd foreign exchange auction by the end of the last year and the 65^th since Hisham Ramez hold the office of the CBE’s Governor last February.

CBE has pumped $ 2.560 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.

The Banks have covered $ 38.4 million of CBE’s auction in the last week with EGP 6.99.