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The Central Bank of Egypt (CBE) has offered today its first foreign exchange auction for this week totaled US$ 40 million for local banks. The central bank is offering on Monday its 109th FX Auction since application and the 91st since Hisham Ramez hold the office as the CBE’s Governor last February.
Hence, the CBE has pumped US$ 4.320 billion through its periodic FX Auctions on Mondays, Wednesdays and Thursdays, in addition, CBE had also raised two exceptional FX Auctions 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 Thursday, Sept 26th in which the US dollar was sold for EGP 6.88.
