The Central Bank of Egypt will from now hold one foreign currency auction a week, on Tuesdays, when it will sell USD120 million, bankers told Reuters on Sunday. The bank previously held three auctions a week on Sundays, Tuesdays and Thursdays, selling USD40 million at each. "The Central Bank of Egypt announces that, as of today, it hereby consolidates its FX regular auctions that were previously held three times a week into one auction to be held every Tuesday. The forthcoming auction will be held on March 22 at 11am," the bank said in a statement. (Reuters)
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