CAIRO: The median overnight interbank rate on the pound remained broadly steady at 8.1 percent on Monday, compared with Sunday s 8.086 percent, in the absence of auctions, traders said. The market is very liquid. There s no demand at all. There are no auctions, one trader said. Five out of 10 banks contacted by Reuters had dealt overnight at rates between 8.05 and 8.20 percent, compared with rates of 8.05 and 8.1 percent on Sunday. The central bank sets a corridor for overnight interbank rates by offering to borrow funds from banks at 8 percent and lend to them at 10 percent. As on Sunday, no bank said it had dealt one-week money. By 11:00 GMT the pound had strengthened to LE 5.7653 to the dollar, against a closing general weighted average of LE 5.7670 on Sunday. Reuters
Interbank rate steady at 8.1 percent
