March 14, 2016 / 8:00 AM / 4 years ago

Egypt central bank devalues Egyptian pound to 8.85 per dlr at special FX auction

CAIRO, March 14 (Reuters) - Egypt’s central bank said on Monday it had devalued the Egyptian pound to 8.85 per dollar at a special foreign exchange auction.

It had previously set the rates at its regular and exceptional auctions at 7.73 per dollar as an average bid price.

The central bank said on its official trading page that it had sold $198.1 million at the auction. (Reporting by Lin Noueihed; Editing by Andrew Heavens)

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