Home MoneyBanks CBE Reduces Number Of FX Auctions To Three A Week

CBE Reduces Number Of FX Auctions To Three A Week

by Administrator

The Central Bank of Egypt (CBE) decided to reduce the number of FX auctions to three auctions this week as it offered US$ 75 million to local banks last Sunday and will conduct two other FX auctions next Tuesday and Thursday.

A number of managers of the treasury sector stated that CBE took such decision in order to curb the impact of these auctions on the Egyptian pound against US dollar.

The exchange rate of the U.S. dollar rose EGP 0.08 against the Egyptian pound to EGP 6.65 (sell price) and EGP 6.60 (buy price).

The total amount that CBE has offered since it launched the new FX auction system rose to US$ 595 million.

The total amounts that CBE offered in nine FX auctions are as follows:

Date

Value In Million US Dollar

Sunday, December 30th, 2012

75

Monday, December 31th, 2012

75

Wednesday, January 2nd, 2013

75

Thursday, January  3rd, 2013

75

Sunday, January 6th, 2013

60

Tuesday, January 8th, 2013

60

Wednesday, January 9th, 2013

50

Thursday, January 10th, 2013

50

Sunday, January 13th, 2013

75

Total Value

595

 

 

 

You may also like

Leave a Comment