Dollar holds steady in Tuesday auction
A man hold U.S. dollars - REUTERS/Beawi Harta

CAIRO: The Egyptian pound held steady in a Tuesday auction against the dollar, registering 7.83 against the greenback.

Banks and exchange bureaux are permitted by Egypt’s Central Bank to trade the EGP within a .10 and .15 range of the official rate, respectively.

The pound saw two devaluations in mid-October, reaching a record low of 7.93 against the dollar. The pound was strengthened in a surprise move by the Central Bank last week, hitting the current rate of 7.83 EGP/dollar.

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