Sunday, 15 November 2015 15:55
CAIRO: Egypt’s central bank kept the pound steady at 7.7301 pounds to the dollar at its official foreign currency auction on Sunday, a foreign exchange trader said, less than a week after it surprised the market by strengthening the pound.
Egypt is facing a dollar shortage and mounting pressure to devalue the currency. The central bank surprised markets when it strengthened the pound last week by 20 piasters against the dollar.
