CAIRO: The median overnight interbank rate on the pound fell to 8.15 percent on Wednesday from Tuesday s 8.269 percent as banks awaited the results of a central bank auction, traders said. The central bank auctioned 56-day certificates of deposits worth LE 6.4 billion ($1.1 billion). Certificates worth LE 8.2 billion matured at the same time, adding extra liquidity to the market, traders said. Everyone s waiting for the central bank auction result, said one trader who declined to be named. The market is liquid because 8.2 billion was redeemed and only 6.4 billion auctioned, another trader said. Four out of nine banks contacted by Reuters had dealt overnight money at rates between 8.05 and 8.2 percent, compared to a range of 8.25 to 8.45 percent on Tuesday. Four banks had dealt one-week money at rates between 8.15 and 8.4 percent. None had dealt one-week money on Tuesday. By 11:00 GMT, the pound had weakened marginally to LE 5.7593 to the dollar from Tuesday s general weighted average of LE 5.7590. Reuters
Interbank rate falls to 8.15 percent
