Egypt.C.Bank Raises Egypt Banks $ 40 mln at FX Auction Today

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 106th FX Auction since application and the 88th since Hisham Ramez hold the office as the CBE’s Governor last February.

Hence, the CBE has pumped US$ 4.240 billion through its periodic FX Auctions on Mondays, Wednesdays and Thursdays, in addition, CBE had also raised two exceptional FX Auction totaled at US$ 2.9 billion divided into two FX Auctions, issued last April and May as well as the current September.

The central bank last time offered its FX auction was on last Thursday, Sept 19th with $US 40 million and the banks have covered $US 39 million.

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