Cairo - Egypt's pound edged stronger at a central bank foreign currency sale on Monday.
The central bank sold $38.8 million with a cut-off price of 6.8806 Egyptian pounds per dollar versus 6.8809 pounds at its last sale on Thursday, the bank said. It had offered $40 million.
On the black market, one dealer was offering to buy dollars for 7.11 pounds and sell them for 7.13 pounds, putting the pound marginally stronger than Thursday's 7.12 and 7.14.
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 the army ousted Islamist President Mohamed Mursi on July 3. - Reuters