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Egypt cbank sells $98.7 mln at average bid price of 14.65 pounds per dlr

CAIRO, Nov 3 (Reuters) - Egyptian central bank sold $98.7 million at an average bid price of 14.645 pounds at a special auction on Thursday, after devaluing the pound to an initial rate of 13 earlier in the day and announcing a float.

The central bank said that the cut-off price at the auction was 14.3 pounds to the dollar and the maximum rate was 15.6. (Reporting by Lin Noueihed, editing by Amina Ismail)

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