CBE Offers US$ 40 Mln At Wednesday’s FX Auction

The Central Bank of Egypt (CBE) has offered US$ 40 million to local banks on Wednesday at its second FX auction this week.

This is the 57^th auction and the 41^st one since the appointment of Governor Hisham Ramez last February.

The value of dollars offered of FX auctions under the leadership of the Ramez reached US$ 1.680 billion, in addition to US$ 600 million were offered at an exceptional auction at the middle of last April.

The dollar’s price has hiked against the Egyptian pound today to reach EGP 6.99, hitting the highest value.