Cairo – Mubasher: The Central Bank of Egypt (CBE) said it will hold its weekly dollar auction for $120 million on behalf of the Ministry of Finance (MoF) on Tuesday.
The bank sold $117.9 million on Tuesday, 6 August, the bank said on its official website on Saturday.
The CBE kept the EGP-US dollar price at EGP 8.78 per dollar during last week's tender.
Previously, CBE governor Tarek Amer stated that the bank injected $15.69 billion (EGP 139.821 billion) through regular and exceptional dollar auctions between November 2015 and April 2016.
Egypt’s foreign currency reserves retreated to $15.54 billion by the end of July 2016, compared with $36 billion registered before January 2011.
