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Egyptian pound steady

Egypt's central bank kept the pound steady at 7.73 per dollar at a foreign exchange auction on Thursday, and the currency was weaker at exchange bureaus. The central bank said it had offered $40 million and sold $37.8 million at a cut-off price of 7.7301 pounds per dollar, unchanged from the rate at the last auction on Tuesday. The bank kept the pound at 7.5301 for five months until last month, when it allowed it to slide to 7.6301. On July 5, the bank let it slip a further 0.10 pounds.

Copyright Reuters, 2015