Egypt pound continues fall at Thursday dollar auction
CAIRO Jan 10 (Reuters) - The Egyptian pound weakened at a central bank auction of dollars on Thursday, the eighth such sale since it introduced a new regime to reduce pressure on its currency.
The bank said the cut-off price at the auction was 6.5099 pounds to the dollar - a 0.47 percent fall from Wednesday when the cut-off price was 6.4797 pounds. The central bank said it had sold $49.1 million at the auction, less than the $50 million it had offered.
On the interbank market, the central bank limits trades to a 0.5 percent band above or below the weighted average of bids at the most recent currency auction. The weighted average weakened to 6.5099 pounds to the dollar from 6.4798 on Wednesday.
- Nurse defies Ebola quarantine with bike ride; negotiations fail |
- Suspect in Pennsylvania police ambush captured after seven-week manhunt |
- Global shares jump, yen slumps as BOJ cranks up stimulus |
- Oil price declines have small-cap shale investors scrambling
- BOJ shocks markets with more easing as inflation slows