Egypt c.bank sells $39.6 mln at Monday's forex auction
CAIRO, March 4
CAIRO, March 4 (Reuters) - The Egyptian central bank sold $39.6 million to banks in its 29th foreign currency auction on Monday, with a cut-off price of 6.7342 Egyptian pounds to the dollar.
The cut-off price at the previous auction, held on Thursday was 6.7304 pounds to the dollar.
The central bank introduced the foreign exchange auctions at the end of December as part of an effort to stave off a currency crisis triggered by a run on the pound, which has lost over 8 percent of its value since the start of the year.
- Obama and Castro shake hands, Zuma humiliated at Mandela memorial |
- Google bus blocked in San Francisco gentrification protest
- Reporter can keep sources secret in Colorado theater shooting: court
- Couple, four children missing in Nevada found safe in canyon
- Regulators seek to curb Wall St. trades with Volcker rule |