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

The CBE held the pound steady at EGP 8.78 per US dollar in last week’s sale, as per official data.

On 28 July, Egypt's Central Bank also maintained the interest rates steady, with the overnight deposit rate, overnight lending rate, and the rate of the CBE’s main operation at 11.75%, 12.75%, and 12.25% respectively.

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.