Egypt's Central Bank kept the pound stable at 8.78 per dollar at its regular foreign currency auction on Tuesday.
Central Bank sells $104.5m at regular FX auction on Tuesday
The auction was the first regular auction since the Central Bank consolidated its foreign currency auctions that were previously held three times a week.
However, it sold 104.5 million dollars after offering 120 million dollars at the auction, data from the Central Bank showed.
It brought the amount offered during Tuesday's auction to 120 million dollars.
Egypt, which relies heavily on imports, has been facing a dollar shortage since a popular uprising in 2011 drove away tourists and foreign investors, both major sources of hard currency.
JOIN OUR PULSE COMMUNITY!
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.ng
Recommended articles
No need to run when EFCC invites you, Cubana Chief Priest advises Nigerians
Immigration places wanted Yahaya Bello on watchlist, unveils his passport details
Oyo govt justifies demolition of Yoruba Nation agitators’ building
NAFDAC raids popular supermarket in Abuja for selling counterfeit products
Iranian morality police crack down on women who don't wear headscarves
FG sets up committee to compensate landowners affected by Lagos-Calabar road project
Kano Gov remains a bona fide member of our party - NNPP debunks suspension
We need ₦3.2trn to pay electricity subsidy in 2024 - FG
Tinubu's proactive approach to security threats yielding results, Ribadu claims
Pulse Sports
Lionel Messi's son breaks the internet after scoring five goals for Inter Miami
Naija Stars Abroad: Onyedika, Boniface, and Osimhen shine across Europe
Victor Osimhen and Tobi Amusan make list of Forbes’ 30 under 30 Class of 2024
ADVERTISEMENT