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Egypt Offers $60 Mln At Tuesday Currency Auction
Amwal Al Ghad Published in Amwal Al Ghad on 08 - 01 - 2013

The Central Bank of Egypt (CBE) offered $60 million to banks at a foreign currency auction on Tuesday, the same amount it offered at its previous auction on Sunday under a new system aimed at curbing a decline in foreign reserves.
The Egyptian pound has weakened by more than 4 percent on the interbank market since the system was introduced on December 30. The central bank auctioned a total of $300 million in similar auctions last week. Banks were closed on Monday for a public holiday marking Coptic Christmas.
Reuters

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