Egypt C.Bank Offers $40 Mln FX Auctions For Local Banks

The Central Bank of Egypt (CBE) has offered US$ 40 million to the local banks at its 79^th foreign exchange auction By the end of the last year and 62 FX Auctions since Hisham Ramez hold the office of the CBE’s Governor last February.

CBE has pumped $ 2.5 billion through periodic FX Auctions on Mondays, Wednesdays and Thursdays, in addition, CBE had also raised two exceptional FX Auction totaled at US $ 1.4 billion divided into two FX Auctions, one on 15th April worth US$ 600 million and another on 22nd May at value of US$ 800 million.

Moreover, US dollar reached EGP 7.0093 during CBE last FX auction, whilst in the official marker US dollar stood at EGP7.0584.