I think you might enjoy this article: Reuters News Egyptian pound steady on official market, down on black market.
CAIRO, Sept 15 (Reuters) - Egypts pound held steady at a
central bank dollar sale on Monday, with the bank saying it sold
$37.6 million at a cut-off price of 7.1401 pounds per dollar,
unchanged from Thursdays rate.
In the unofficial market, the pound was trading at 7.38 to
the dollar, slightly weaker than Thursdays rate of 7.35, one
trader said.
The rate for dollar sales has stayed in a tight range since
the beginning of June, after the bank allowed the pound to
weaken in May. The central bank offered $40 million on Monday.
The rates at which banks are allowed to trade dollars are
determined by the results of central bank sales, giving the bank
effective control over official exchange rates.
(Reporting By Shadi Bushra; Editing by Catherine Evans)
((shadi.bushra@thomsonreuters.com; +20 109 353 8134; Reuters
Messaging: shadi.bushra.thomsonreuters.com@reuters.net))
Keywords: EGYPT FOREX
Disclaimer:
© Thomson Reuters 2014. All rights reserved. Republication or redistribution of Thomson Reuters content, including by framing or similar means, is prohibited without the prior written consent of Thomson Reuters. Thomson Reuters is not liable for any errors or delays in Thomson Reuters content, or for any actions taken in reliance on such content. 'Thomson Reuters' and the Thomson Reuters logo are trademarks of Thomson Reuters and its affiliated companies.
For additional information on other Thomson Reuters Services please visit the Thomson Reuters public web site http://www.thomsonreuters.com/.
CAIRO, Sept 15 (Reuters) - Egypts pound held steady at a
central bank dollar sale on Monday, with the bank saying it sold
$37.6 million at a cut-off price of 7.1401 pounds per dollar,
unchanged from Thursdays rate.
In the unofficial market, the pound was trading at 7.38 to
the dollar, slightly weaker than Thursdays rate of 7.35, one
trader said.
The rate for dollar sales has stayed in a tight range since
the beginning of June, after the bank allowed the pound to
weaken in May. The central bank offered $40 million on Monday.
The rates at which banks are allowed to trade dollars are
determined by the results of central bank sales, giving the bank
effective control over official exchange rates.
(Reporting By Shadi Bushra; Editing by Catherine Evans)
((shadi.bushra@thomsonreuters.com; +20 109 353 8134; Reuters
Messaging: shadi.bushra.thomsonreuters.com@reuters.net))
Keywords: EGYPT FOREX
Disclaimer:
© Thomson Reuters 2014. All rights reserved. Republication or redistribution of Thomson Reuters content, including by framing or similar means, is prohibited without the prior written consent of Thomson Reuters. Thomson Reuters is not liable for any errors or delays in Thomson Reuters content, or for any actions taken in reliance on such content. 'Thomson Reuters' and the Thomson Reuters logo are trademarks of Thomson Reuters and its affiliated companies.
For additional information on other Thomson Reuters Services please visit the Thomson Reuters public web site http://www.thomsonreuters.com/.
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