CBE keeps Egypt’s pound stable against US dollar

Cairo - Mubasher: The Central Bank of Egypt maintained the Egyptian pound unchanged at 7.73 per dollar in auction on Sunday.

The bank sold $38.8 million to banks in its regular dollar sale auction No. 473 .

CBE said earlier, it paid back $547.2 million dues owed to foreign investors.

Last November, CBE allowed the Egyptian pound, for the first time in 2015, to rise against the dollar by EGP 0.20 to reach EGP 7.7301.

Meanwhile, in October the central bank allowed the pound to depreciate twice against the dollar by around EGP 0.10 to reach a historical level of 7.93 per dollar.

Mubasher Contribution Time: 14-Feb-2016 12:42 (GMT)