C. Bank Offers Its Last FX Auction of this Week with US$40 mln

The Central Bank of Egypt (CBE) has offered today its last foreign exchange auction for this week totaled US$ 40 million for local banks.

This is  its 154th FX Auction since Hisham Ramez hold the office as the CBE’s Governor last February worth US$6.620billion, in addition non-periodic FX Auction worth US$2.7 billion  which issued during the last year by CBE.

US$ dollar prices declined  in the tender of yesterday with two points, registering EGP6.9520.

The Central Bank of Egypt (CBE) announced the country’s foreign cash reserves of 2013 hit US$734 million , registering US$17.032at December 2013 compared to US$17.765 billion at November 2012.