CAIRO Feb 4 Egypt's central bank has tightened
the pound's trading band in the interbank foreign exchange
market in an apparent move to slow the currency's decline, a
forex dealer at a Cairo bank said on Monday.
Banks may now only buy or sell dollars or their equivalent
to other banks in a band of 0.01 pounds above or below the
weighted average bid at the central bank's regular currency
auctions, the dealer said.
Previously, the limit had been 0.5 percent above or below
the average bid.
Political strife has triggered a flight into dollars and
other foreign currencies, putting renewed pressure on Egypt's