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Financials

Egypt cbank FX auction proceeds to clear backlog on imports of staples, medicines

CAIRO, March 29 (Reuters) - Egypt’s central bank said on Tuesday that foreign currency offered at its regular weekly auction would be dedicated to multinational companies that need to clear payment backlogs for the import of staples and pharmaceutical goods.

It said $120 million would be offered at the auction.

Reporting by Lin Noueihed; editing by John Stonestreet

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