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Egypt sold $600m to cover strategic imports
- Egypt: Monday, April 15 - 2013 at 05:00
The Egyptian central bank has said it has sold $600m to lenders in a foreign exchange auction yesterday for a cut off price of EGP6.872 to the dollar to cover strategic imports, Reuters has reported. The auction was 15 times the size of the three weekly $40m currency auctions in which the cash-strapped central bank has been rationing foreign exchange in recent months.
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