Home MoneyBanks Today’s FX Auction Delayed To Monday On Hisham Ramez’s 1st Day At CBE

Today’s FX Auction Delayed To Monday On Hisham Ramez’s 1st Day At CBE

by Administrator

The Central Bank of Egypt (CBE) delayed conducting its FX auction to next Monday after Hisham Ramez assumes the responsibilities of the CBE’s governor position today.

CBE was slated to conduct three FX auctions this week on Sunday, Tuesday and Thursday. However, the bank decided to delay today’s auction to tomorrow. The the number of auctions and the value of dollars that will be offered will be announced tomorrow.

 CBE launched the FX auction mechanism at the beginning of this month in order to slow the country’s depletion of foreign reserves.

The value of dollar registered 6.37 (Sell price) at the beginning of launching this new system and hiked to EGP 6.78 (sell price).

This is the first FX auction to be delayed under Hisham Ramez’s rule.

The total amounts that CBE offered in previous FX auctions are as follows:

 

Date

Offer Value

Sunday, December 30th, 2012

US$ 75 million

Monday, December 31th, 2012

US$ 75 million

Wednesday, January 2nd, 2013

US$ 75 million

Thursday, January  3rd, 2013

US$ 75 million

Sunday, January 6th, 2013

US$ 60 million

Tuesday, January 8th, 2013

US$ 60 million

Wednesday, January 9th, 2013

US$ 50 million

Thursday, January 10th, 2013

US$ 50 million

Sunday, January 13th, 2013

US$ 75 million

Tuesday, January 15th, 2013

US$ 75 million

Thursday, January 17th, 2013

US$ 75 million

Sunday, January 29th, 2013

US$ 75 million

Tuesday, January 22nd, 2013

US$ 75 million

Sunday, January 27th, 2013

US$ 50 million

Tuesday, January 29th, 2013

US$ 50 million

Thursday, January 31st, 2013

US$ 50 million

Total Value

US$ 1.07 billion

You may also like

Leave a Comment