CBE Offers Egypt Banks $40 mln at FX Auction Today

The Central Bank of Egypt (CBE) has offered today its last foreign exchange auction for this week totaled US$ 40 million for local banks. The central bank is offering on Thursday its 105^th FX Auction since application and the 87th since Hisham Ramez hold the office as the CBE’s Governor last February.

Hence, the CBE has pumped US$ 4.2 billion through its periodic FX Auctions on Mondays, Wednesdays and Thursdays, in addition, CBE had also raised two exceptional FX Auction totaled at US$ 2.9 billion divided into two FX Auctions, issued last April and May as well as the current September.

The central bank last time offered its FX auction was Wednesday, Sept 18^th.