The Central Bank of Egypt (CBE) said it had kept the pound stable at EGP8.78 to the dollar in an extra foreign currency auction on Thursday. The bank, which holds regular FX auctions on Tuesdays, said it had sold USD118.7 million of an intended USD120 million. Meanwhile, the pound weakened on the black market as demand for dollars rose, three traders told Reuters. Black market quoted price ranged between of EGP10.30 to EGP10.32 per dollar, weaker than Wednesday's range of EGP10.15 to EGP10.20. (Reuters)
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