Cairo – Mubasher: The Central Bank of Egypt said it will hold an exceptional $500 million foreign exchange auction on Sunday, 6 March.
The auction would be held at 3 p.m. (1300 GMT), the central bank said in an announcement to traders.
The central bank normally sells no more than $40 million at its regular forex auctions, which are held three times a week.
Egypt’s pound has been depreciating rapidly on the black market over the past week, as it reached 9.50 to the dollar.
