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Egypt will sell $120 million on Tuesday in its regular weekly dollar auction, central bank data showed.
Speculation has been mounting that the central bank would devalue its currency amid a rapidly weakening rate on the black market.
Bankers and economists have said a devaluation could come in an exceptional auction for a quantity of dollars greater than the usual $120 million sold weekly.
The rate for Tuesday’s auction has not yet been specified.
Source: Reuters