The Central Bank of Egypt (CBE) maintained the dollar price at EGP 7.83 against the pound, after having depreciated it by 20 piasters on Wednesday.
The price was maintained in the Thursday morning auction to banks, which sold $38.3m. The dollar price now stands at EGP 7.78 for buying and EGP 7.8301 for selling at banks.
The parallel exchange market’s transactions have been suspended since Wednesday, awaiting the CBE’s decision.
Following the decision to stabilise the dollar, its price on the parallel market dropped to EGP 8.3, shedding more than 20 piasters.
The parallel market is expected to keep transactions to a minimum over the weekend, awaiting the CBE’s next move on Sunday.
