Egyptian pound steady against dollar for 3rd time in a week
Central Bank of Egypt - YOUM7

CAIRO: For the third time this week, the Central Bank of Egypt (CBE) held steady Thursday the value of Egyptian pound against the U.S. dollar, Youm7 reported, citing officials from the CBE.

The first decision by the new CBE governor Tareq Amer who officially assumed his position Friday, was take Sunday and it was held steady Tuesday during the weekly auctions of the securities.

Amer kept Egyptian pound value at 7.73 against the U.S. dollar in the banks which will sell the dollar for clients at 7.83 EGP, the official added.

Former Governor Hesham Ramzi resigned Nov. 11 after facing a barrage of criticism over depreciation the Egyptian pound value against the dollar f; President Abdel Fatah al-Sisi appointed Amer in the same day.

It is expected that the bank could auction, in the coming few days, an exceptional package of securities worth at $500 million and could rise up to a billion dollar to control the black market.

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