Cairo – Mubasher: The US dollar has hit a new high against the Egyptian pound on the black market at EGP 9 per dollar on Monday, against EGP 8.70 per dollar on Sunday.
On other hand, the Central Bank of Egypt continued keeping Egypt’s pound stable against US dollar in the official market at EGP 7.73 to dollar, according to the cut-off price of its regular foreign exchange auction on Monday.
CBE said that it sold $38.8 million out of the $40 million offered in its periodic auction No 473.
In December 2015, the bank paid all foreign investor’s dues at a value of $547.2 million.
In 11 November 2015, CBE surprisingly strengthened the pound by 20 piasters in the open market operations to stand at EGP 7.73 per dollar.
Meanwhile, the pound was depreciated twice against the dollar in the periodical dollar auctions by 10 piasters each in 13 & 17 October, reaching EGP 7.93.
