Egyptian pound steady at official auction and on black market

May 26, 2015 11:35 AM

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CAIRO May 25 Egypt's central bank kept the pound steady at 7.53 to the dollar at a foreign exchange auction on Tuesday, while the currency was largely stable on the black market.

The central bank has held the official exchange rate steady for more than three months since letting the pound weaken at the beginning of 2015. This weakening and other measures have helped reduce black market trading significantly.

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