(Changes day to Thursday from Wednesday)
CAIRO, Sept 4 Egypt's pound held steady
at a central bank dollar sale on Thursday, with the bank saying
it sold $37.6 million at a cut-off price of 7.1401 pounds
per dollar, unchanged from Wednesday's rate.
In the unofficial market, the pound was also steady, trading
at 7.38 to the dollar, one trader said.
The rate for dollar sales has stayed in a very tight range
since the beginning of June, after the bank allowed the pound to
weaken in May. The central bank offered $40 million on
The rates at which banks are allowed to trade dollars are
determined by the results of central bank sales, giving
the bank effective control over official exchange rates.
(Reporting By Shadi Bushra; Editing by Toby Chopra)