Egypt cbank FX auction proceeds to clear backlog on imports of staples, medicines

Reuters , Tuesday 29 Mar 2016

The Central Bank of Egypt
The Central Bank of Egypt's headquarters in downtown Cairo (Photo: Reuters)

Egypt's central bank said on Tuesday that foreign currency offered at its regular weekly auction would be dedicated to multinational companies that need to clear payment backlogs for the import of staples and pharmaceutical goods.

It said $120 million would be offered at the auction.

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