Egypt's central bank sells US$118.7 million at Tuesday auction
Egypt's central bank sold US$118.7 million at its regular rate of 8.78 to the dollar at Tuesday's sale.
Egypt's pound strengthened on the black market, traders quoting rates of 10.40/10.50 to the dollar, after it had sharply weakened in the past couple of weeks, hitting around 11.50 Egyptian pounds to the dollar.