Egyptian pound holds steady against dollar
A man hold U.S. dollars - REUTERS/Beawi Harta

CAIRO: Central Bank of Egypt (CBE) held Sunday the value of Egyptian pound steady against the U.S. despite a shortage of foreign reserves, a CBE official told Youm7.

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.

It is expected that the bank could auction, in the coming few days, an exceptional package of securities worth $500 million and could rise up to 1 billion dollar to control the black market, the official added.

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