Cairo – Mubasher: The Central Bank of Egypt (CBE) said Tuesday it revised the mechanism of allocating foreign currency at its dollar sale auction.

The central bank kept the pound exchange rate unchanged at 7.73 per dollar. It had offered $40 million.

Egyptian President Abdel Fattah El-Sisi issued a presidential decree in October appointing senior banker Tarek Amer as Egypt's central bank governor. Amer replaces Hisham Ramez who submitted his resignation.