Egyptian pound remains steady against dollar
The Central Bank of Egypt - YOUM7 (Archive)

CAIRO: Central Bank of Egypt (CBE) governor Tareq Amer held Sunday the value of the Egyptian pound steady against the U.S. dollar in the CBE Treasury bills (T-bills) auctions for the public market.

This auction preserves the value of the pound at 7.73 against the U.S. dollar in the banks, which will sell the dollar to clients at 7.83 EGP, for the fourth time in a row since Amer assumed his position officially on Nov. 27, Youm7 reported officials from the CBE.

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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