CAIRO - The Egyptian pound hit a record low on Tuesday after weakening again at a central bank US dollar auction designed to stem a decline in the country's dwindling foreign currency reserves.
The central bank said the cut-off price at the Tuesday auction was 6.4492 pounds to the dollar - a 0.5 percent fall from Sunday when the cut-off price was 6.4185 pounds to the dollar. The central bank said it had sold $60 million at the auction - the same amount it had offered.
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console.log("catid body is "+catID);if(catID==120){document.getElementsByClassName("divConnatix")[0].style.display ="none";var script = document.createElement('script'); script.src = 'https://player.anyclip.com/anyclip-widget/lre-widget/prod/v1/src/lre.js'; script.setAttribute('pubname','jpostcom'); script.setAttribute('widgetname','0011r00001lcD1i_12258'); document.getElementsByClassName('divAnyClip')[0].appendChild(script);}else if(catID!=69 && catID!=2){ document.getElementsByClassName("divConnatix")[0].style.display ="none"; var script = document.createElement('script'); script.src = 'https://static.vidazoo.com/basev/vwpt.js'; script.setAttribute('data-widget-id','60fd6becf6393400049e6535'); document.getElementsByClassName('divVidazoo')[0].appendChild(script); }The weakening is in line with the central bank's interbank trading band, which it narrowed last week to plus or minus 0.5 percent from the previous 1.0 percent.
