Cairo – Mubasher: The Central Bank of Egypt (CBE) announced it will hold a regular weekly dollar sale for $120 million on Tuesday.
This comes amidst growing speculations of currency devaluation as the gap between official exchange rates and the parallel market has widened.
The CBE held the pound steady at EGP 8.78 per US dollar in last week’s sale, as per official data.
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.
