Egypt Central Bank Raises $40 mln at FX Auction
The Central Bank of Egypt (CBE) has offered today its last foreign exchange auction for this week totaled US$ 40 million for local banks. The central bank is offering on Thursday its 98th FX Auction since application and the 81st since Hisham Ramez hold the office as the CBE’s Governor last February.
Hence, the CBE has pumped US$ 3.920 billion 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, issued last April and May.
The central bank last time offered its FX auction was Wednesday, August 27th in which the US dollar’s was sold for EGP 6.98.
Dollar VS Pound
The US dollar’s exchange rate during this morning reached EGP 6.98 for buying and EGP 7.016 for selling. In the black market, the greenback’s prices steadied through the week at EGP 7.21 for buying and EGP 7.25 for selling. Yet, the US dollar dipped on Thursday to EGP 7.10.
