Sunday 20 April 2014
 
»
 
»
Story

Egypt accepts bids for $38.5m at forex auction

Cairo, April 15, 2013

The Egyptian central bank sold $38.5 million to banks in a foreign currency auction on Monday, with a cut-off price of 6.8765 Egyptian pounds to the dollar.

The cut-off price at an exceptional foreign currency auction held on Sunday to cover strategic food imports was 6.8720 pounds.

The central bank introduced the foreign exchange auctions at the end of December as part of an effort to stave off a currency crisis triggered by a run on the pound, which has lost around a tenth of its value since the start of the year.-Reuters




Tags: Egypt | forex | Auction |

More INTERNATIONAL NEWS Stories

calendarCalendar of Events

Ads

Buy high quality China wholesale Health & Beauty , Electronics, Sports & Outdoors , Computers, Video Games, Toys & Hobbies Cell Phones, Automobiles and other wholesale products directly from reliable Chinese wholesalers or Factories on DHgate.com