EGP stable at regular FX auction, slumps to new record in Black Market
The Central Bank of Egypt (CBE) kept the EGP steady against the USD at Tuesday's weekly FX auction, selling USD117.9mn at USD-EGP 8.78. Meanwhile, the EGP is trading at USD-EGP 14.05-14.25 in the parallel market, compared to USD-EGP 12.99 a week earlier, marking a new record low. (Reuters, Bloomberg)
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