Cairo – Mubasher: The Central Bank of Egypt (CBE) will hold a regular FX auction to sell $120 million to banks on 9 August, according the bank’s online data.
Last week, the bank kept the Egyptian pound's value unchanged at 8.78 against US dollar amid speculations about deeper devaluation.
Earlier, the bank of Egypt decided to reduce foreign currency auctions to a single regular auction on Tuesdays instead of three ones per week.
In July, Egypt’s net foreign reserves fell 11.45% to $15.54 billion in July 2016, compared with $17.55 billion a month earlier.
