CBE Offers US$ 40 Mln At 1st FX Auction This Week

The Central Bank of Egypt (CBE) has offered US$ 40 million to local banks on Wednesday at its 54^th FX auction and the 38^th one since the appointment of Hisham Ramez as Governor of CBE.

This is the first FX auction conducted this week as Monday’s auction was cancelled because it was an official day off on the occasion of Easter Holiday. This auction brings the value of dollars offered at FX auctions under the leadership of Ramez to US$ 1.520 billion, in addition to US$ 600 million offered at an exceptional auction three weeks ago.