Cairo - Egypt's pound strengthened at a central bank foreign currency sale on Thursday.
The central bank sold $38.8 million with a cut-off price of 6.8809 Egyptian pounds per dollar versus 6.8813 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 pounds, little changed from Wednesday's 7.12 and 7.13 pounds.
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