EGP strengthened on the black market on Tuesday, trading at USD-EGP 16.5 for buying down from USD-EGP 17.5-17.85 on Monday, and selling at USD-EGP 16.75-17.8, down from USD-EGP 18-18.2 on Monday and USD-EGP 16.1 last week. Commodity traders said that despite lower rates, buying remains sluggish since the rate remained above what they assessed was the EGP's real value. "People are offering at 17. Zero buyers. Some offer at 16.75," said one trader. The Egyptian Chambers of Commerce Federation announced its boycotting the parallel market for two weeks and urged its members to stop importing non-essential goods for three months. The federation will begin releasing its own guide to the fair value of the USD on its website in a month, Board Member Hassan Khalil stated. The initiative does not include a ban on importing ready-made goods, said the head of the importers division Hamdy El Naggar, adding that no suspension is being imposed on cars imports. Meanwhile, CBE kept the EGP stable, selling USD117.9mn at USD-EGP 8.78 at its weekly FX auction on Tuesday. (Reuters, Al Mal, Al Masry Al Youm, Daily News Egypt, Al Borsa)