Cairo – Mubasher: The Central Bank of Egypt maintained the pound exchange rate unchanged at 7.73 per dollar, for the fifth successive time, in an auction Sunday.
The bank sold $37.8 million to banks in its regular dollar sale auction. It had offered $40 million.
Earlier this month, the central bank strengthened the pound against the U.S. dollar by 20 piasters, which was a surprise move that ran against all expectations.
In October, the central bank allowed the pound to depreciate twice against the dollar by around EGP 0.10 to reach a historical level of 7.93 per dollar.
CBE announced earlier that net international reserves reached $16.41 billion at the end of October, up $80 million from $16.33 billion at September-end.
