The median overnight interbank rate on Egypt's pound edged up to nine percent on Sunday from 8-3/4 percent the previous session as dealers said the central bank took some funds out of the market with a deposit auction.
The central bank offered two billion Egyptian pounds ($323 million) of 28-day deposits on Sunday and dealers said they preferred to enter this auction than trade on the interbank market because rates were higher in the auctions.
Five of 10 banks contacted by Reuters had dealt overnight money at rates of between eight and 9-1/2 percent, compared with a range of 8-1/2 to 9-1/2 percent on Thursday.
Five banks also dealt for one week at rates of 8-1/2 to 9-3/4 percent versus 9-5/8 and 10 percent on Thursday.
Overnight CAIBOR rose to 8.4056 from 8.3688 percent on Thursday, while one-week CAIBOR nudged up to 8.6755 from 8.6636 percent the previous session.
On the foreign exchange market, the pound's midrate was last quoted at 6.20 to the dollar at banks and 6.19 in exchange houses, around Thursday's weighted average of 6.19.
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