The Central Bank of Egypt (CBE) offered USD100mn in foreign currency auction on Thursday and accepted USD98.7mn at USD-EGP14.645. The CBE told banks in a memorandum that trading on the interbank system will begin on Sunday between 10:00AM-1:00PM local time. Banks were able to bid at Thursday's foreign exchange auctions without price restrictions, according to the memo. Results of the auction are in "no way binding" for banks pricing to their customers and the treasury would reserve the right to cancel any bid deemed inappropriate, the memo added. (Reuters, CBE)