Cairo – Mubasher: The Central Bank of Egypt (CBE) would sell $120 million to banks at a regular FX auctions held every Tuesday.
In the previous auction, the bank left the dollar exchange rate unchanged at EGP 8.78 per dollar amid strong speculations on the local currency's devaluation.
The country's foreign reserve tumbled from $36 billion before the 2011 revolution to $15.54 billion by the end of July 2016.
