Cairo – Mubasher: The Central Bank of Egypt (CBE) will hold an exceptional foreign exchange auction on Wednesday to sell $1.5 billion, to cover customer debts in foreign currency that were made in import operations, the bank said on Tuesday.
The bank sold today $198.3 million out of $200 million offered at an exceptional auction held for the second time in a row.
Yesterday, CBE devalued the Egyptian pound to 8.85 per dollar from 7.73 per dollar, officially stating the adoption of a more flexible exchange rate regime.
