Cairo – Mubasher: The Central Bank of Egypt (CBE) will sell $120 million to Egypt-based banks next Tuesday at a regular FX auction
Last Tuesday, the bank sold $119.4 million and kept the Egyptian pound's value unchanged at 8.78 per dollar amid talks about devaluation.
Earlier, the central bank's governor Tarek Amer said, “Now is not the right time to tackle the flotation of the Egyptian pound. Yet, devaluation rests on what the bank sees appropriate.”
