CBE To Conduct Three FX Auctions This Week: Sources

The Central Bank of Egypt (CBE) will conduct three FX auctions on Sunday, Tuesday and Thursday of this week as Hisham Ramez will officially assume the responsibilities of the governor position on Sunday, following Farouk El-Okdah’s resignation, sources said. The value of dollars offered in these auctions will be announced on Sunday, sources added.

CBE conducted 16 FX auctions offering dollars to local banks since last January. The value of the dollar was EGP 6.37 at the first FX auction and hiked to EGP 6.81.