The Central Bank of Egypt (CBE) offers US$ 40 million to local banks on Wednesday, with a maximum of US$ 6 million to each bank, so as to address dollar shortage at the banking sector at its 21st FX auction and the fifth one since the appointment of Hisham Ramez, governor of CBE, sources said.
After assuming the responsibilities of his new position, Ramez started offering US$ 75 million at an auction, then US$ 50 million at two auctions and US$ 40 million at the latest two auctions, bringing the amount that CBE offered since the appointment of Ramez to US$ 255 million.
The values that CBE offered in FX auctions under the leadership of Hisham Ramez are as follows:
|
Date |
Offer Value |
|
Monday, February 4th, 2013 |
US$ 75 million |
|
Wednesday, February 6th, 2013 |
US$ 50 million |
|
Thursday, February 7th, 2013 |
US$ 50 million |
|
Monday, February 11th, 2013 |
US$ 40 million |
|
Wednesday, February 13th, 2013 |
US$ 40 million |
|
Total Value |
US$ 255 million |
