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CBE to sell $120m at regular auction on Tuesday

CBE to sell $120m at regular auction on Tuesday
Central Bank of Egypt - (Photo Credit: Arabianeye-Reuters)

Cairo – Mubasher: The Central Bank of Egypt (CBE) announced it will hold a regular dollar sale for $120 million on Tuesday.

The CBE held the pound steady at EGP 8.78 per US dollar in last week’s sale, as per official data, despite growing speculations of another decision to devaluate the pound.

Tarek Amer, the CBE governor, previously said that the bank pumped $15.69 billion (EGP 139.8 billion) through regular and exceptional dollar auctions between last November and April 2016.