CB holds pound steady at 7.93 per $1
The Central Bank of Egypt (CBE) held pound steady at 7.93 per dollar in a foreign exchange auction on Sunday, as the bank sold $37.8 million at a cut-off price of 7.9301 EGP/ dollar.The CBE had allowed the pound to weaken officially in two consecutive depreciations of 0.10 EGP on October 15 and 18.
On October 21 Tarek Amer was named CBE Governor, after Hisham Ramez resigned a month before his term was supposed to expire in November.
On Thursday, one US dollar was sold at 8.03 EGP at banks, and 8.08 EGP at exchange bureaus.
CBE has given permission to trade dollars up to 0.10 EGP and 0.15 EGP above or below the official rate at banks and exchange bureaus.