Reuters logo
Egypt sells $49.6 mln at forex auction
February 6, 2013 / 10:16 AM / 5 years ago

Egypt sells $49.6 mln at forex auction

CAIRO, Feb 6 (Reuters) - Egypt’s central bank said on Wednesday it had accepted bids worth $49.6 million with a cut-off price of 6.7020 Egyptian pounds to the U.S. dollar at a foreign currency auction.

The cut-off price at the previous auction, held on Monday, was 6.6920.

Wednesday’s was the 18th foreign currency auction. The auctions are a bid to curb a decline in Egypt’s foreign reserves, which the central bank said in December had fallen to a critical level. Foreign reserves fell further to $13.6 billion at the end of January, the central bank said on Tuesday.

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below