Cairo - Egypt's pound strengthened at a central bank foreign currency sale on Thursday.
The central bank sold $38.9 million with a cut-off price of 6.8828 Egyptian pounds per dollar versus 6.8831 pounds at its last sale on Wednesday, the bank said. It had offered $40 million.
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 for the last 10 weeks. - Reuters