The Central Bank of Egypt (CBE) decided on Tuesday to fix the dollar price against the pound at EGP 7.73.
The CBE opened its usual tender Tuesday morning to sell dollars to banks, giving them 40 million.
At banks, the asking price for the dollar reached 7.78 pounds, while the bid price reached 7.83 pounds.
The CBE offers three periodic tenders a week on Sunday, Tuesday and Thursday. The $40 million tenders aim at meeting banks' needs of the foreign currency.