The Central Bank of Egypt (CBE) offers US$ 50 million to local banks on Sunday at its 14th FX auction, bringing the amount it offer since launching the new system to US$ 945 million.
Sources said CBE reduced the amount it offers in FX auctions from US$ 75 million to US$ 50 million because of the lack of dollar liquidity held by banks.
CBE decided to conduct three auctions only this week so as to reduce the negative impact of these auctions on the value of Egyptian pound against the dollar which stood at EGP 6.60.
The total amounts that CBE has offered in 14 FX auctions are as follows:
|
Date |
Value In Million US Dollar |
|
Sunday, December 30th, 2012 |
75 |
|
Monday, December 31th, 2012 |
75 |
|
Wednesday, January 2nd, 2013 |
75 |
|
Thursday, January 3rd, 2013 |
75 |
|
Sunday, January 6th, 2013 |
60 |
|
Tuesday, January 8th, 2013 |
60 |
|
Wednesday, January 9th, 2013 |
50 |
|
Thursday, January 10th, 2013 |
50 |
|
Sunday, January 13th, 2013 |
75 |
|
Tuesday, January 15th, 2013 |
75 |
|
Thursday, January 17th, 2013 |
75 |
|
Sunday, January 29th, 2013 |
75 |
|
Tuesday, January 22nd, 2013 |
75 |
|
Sunday, January 27th, 2013 |
50 |
|
Total Value |
945 |
