CAIRO Jan 10 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
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.