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CORRECTED-Egypt's to offer $800 million at forex auction on Wednesday
May 21, 2013 / 5:31 PM / 4 years ago

CORRECTED-Egypt's to offer $800 million at forex auction on Wednesday

(Adds dropped ‘million’ to headline)

CAIRO, May 21 (Reuters) - Egypt’s central bank said on Tuesday it would offer $800 million to banks at an exceptional auction of foreign currency on Wednesday.

The auction will be the central bank’s second exceptional sale of foreign exchange. In April, it sold $600 million to pay for wheat, meat, cooking oil and other essential imports.

The bank said it would hold its next regular foreign exchange auction on Monday. The next regular auction had been due on Wednesday.

The central bank introduced the regular foreign exchange auctions at the end of December in an effort to stave off a currency crisis triggered by political unrest.

Reporting by Asma Alsharif; editing by Ron Askew

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