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CBE to hold $200 million auction to combat black market
Yara Sameh Published in Albawaba on 15 - 03 - 2016

Central Bank of Egypt (CBE) will hold an exceptional auction for $200 million for the second consecutive day, at a price of EGP8.58 pounds to the dollar, Al-Bawaba News reported Tuesday.
Banking sources revealed to Middle East News Agency that most operators in the Egyptian market banks had participated in the auction.
The central bank normally sells no more than $40 million at its regular auctions, which are held three times a week, but recently the bank had launched these auctions to combat the black market.

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