Egypt Central Bank Offers US$40 mln at Thursday’s FX Auction

 The Central Bank of Egypt (CBE) has offered its last foreign exchange auction for this week valued at US$ 40 million for local banks. The central bank is offering on Thursday its FX Auction since application and the 78th since Hisham Ramez hold the office as the CBE’s Governor last February.

CBE has pumped US$ 3.8billion through its periodic FX Auctions on Mondays, Wednesdays and Thursdays, in addition, CBE had also raised two exceptional FX Auction totaled at US$ 1.6 billion divided into two FX Auctions, US Dollar VS. Egypt Pound in the last April and May.

Meanwhile, the bank has offered the last periodic FX Auction in the last Wednesday with US $ 40 million and the banks has covered $ 38 million and the dollar price reached EGP 6.98 in this offer.

Dollar$ prices is stable since the Last feast as EGP 6.98 for buying and EGP 7.018 for selling.