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Egypt releases $600 million to meet import needs

Egypt's central bank has conducted an exceptionally large foreign exchange auction, selling $600 million to banks that urgently need money to pay for basic imports like wheat and materials for industry and medicine.

 

The central bank said in a statement Sunday that the auction was aimed at encouraging the banking sector to bolster the domestic economy. Sunday's auction of $600 million was five times the usual weekly amount. (AP)

 


פרסום ראשון: 04.14.13, 22:21