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You are here: Home»Business»Banking & Finance»Egypt central bank sells $73.1mn at forex auction

Egypt-centra-bankCAIRO: Egypt's central bank said on Monday it accepted bids worth $73.1 million with a cut-off price of 6.6920 Egyptian pounds to the dollar at its 17th foreign currency auction.

 

The cut-off price at the previous auction, held on Thursday, was 6.6820.

 

The auctions are a bid to curb a decline in Egypt's foreign reserves, which the central bank said in December had fallen to a critical level.

 

The reserves are hovering around $15 billion, covering roughly three months' worth of imports.

Copyright Reuters, 2013


 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 24, 2015
Reserves $18.678 bln