Egypt c.bank sells $38.4 mln at forex auction
CAIRO, April 10
CAIRO, April 10 (Reuters) - The Egyptian central bank sold $38.4 million to banks in a foreign currency auction on Wednesday, with a cut-off price of 6.8504 Egyptian pounds to the dollar.
The cut-off price at the previous auction held on Monday was 6.8391 pounds.
The central bank introduced the foreign exchage 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 a tenth of its value since the start of the year.
- Sierra Leone declares emergency as Ebola death toll hits 729 |
- S&P500 index posts worst fall since April; indexes down for July
- U.S. man sues soccer star Cristiano Ronaldo over CR7 trademark
- Israel, Palestinian militant groups agree to three-day Gaza truce |
- Moscow fights back after sanctions; battle rages near Ukraine crash site |