Egypt c.bank to hold pound steady at 8.85 per dollar at exceptional FX auction
A man hold U.S. dollars - REUTERS/Beawi Harta
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CAIRO: Egypt’s central bank will hold the pound steady at 8.85 pounds per dollar at an exceptional foreign currency auction on Tuesday, three bankers told Reuters, a day after the bank devalued the currency.

The central bank said it would sell $200 million at an exceptional auction to finance the import of essential goods.

On Monday the bank devalued the pound to 8.85 per dollar from 7.73 per dollar and said it would pursue a more flexible exchange rate.

 

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