Egypt’s Central Bank Offers US$ 40 Mln At Thursday’s FX Auction
The Central Bank of Egypt (CBE) offers today US$ 40 million to local banks at its 53rd FX auction and the 37th one under the leadership of Hisham Ramez, Governor of CBE.
This is the second auction during this week as the bank offered US$ 40 million on Monday, but cancelled the auction on Wednesday as it was an official holiday on the occasion of Sinai Liberation Day.
Today’s auction brings the value of dollars offered since the appointment of Ramez to US$ 1.48 billion, in addition to US$ 600 million offered at an exceptional auction from two weeks to provide banks with the dollar liquidity needed to import wheat, meat, cooking oil and other basic goods.
