Cairo - Egypt's pound strengthened both at a central bank foreign currency sale on Thursday and on the black market.
The central bank sold $38.8 million with a cut-off price of 6.8818 Egyptian pounds per dollar versus 6.8821 pounds at its last sale on Wednesday, the bank said. It had offered $40 million.
On the black market, one dealer was offering to buy dollars for 7.12 pounds and sell them for 7.14, up slightly from 7.13 pounds and 7.15 pounds on Wednesday.
The central bank introduced currency sales, held three times a week, at the end of December to help to counter a run on the pound. It has been allowing the currency to appreciate since Islamist president Mohamed Mursi was ousted on July 3. - Reuters