CAIRO: The median overnight interbank rate on the pound was unchanged at 8.125 percent on Tuesday compared to Monday s close, as the market awaited the result of an auction. It is still quiet because everybody is waiting for the result of the 7-day note auction, one trader said. The central bank offered seven-day certificates of deposits worth LE 8 billion ($1.39 billion) on Tuesday. Four out of nine banks contacted by Reuters had dealt overnight, at rates between 8.1 and 8.25 percent, compared to a range of 8.05 to 8.20 percent on Monday. The central bank sets a corridor for overnight interbank rates by offering to borrow funds from banks at 8 percent and lend to them at 10 percent. Two banks dealt one-week money at 8.20 and 8.40 percent. No bank had dealt one-week money on Monday. By 10:00 GMT the pound had strengthened slightly to LE 5.7632 to the dollar, against a closing general weighted average of LE 5.7653 on Monday. Reuters
