Egypt's central bank sells $600 million to import basic goods
date:Apr 15, 2013
that the unspecified measures were needed to stabilize prices in the coming period in the face of possible price hikes.

The hard currency was sold at 6.87 pounds to the dollar - near the official rate. The pound is trading much weaker on the black market where most private sector importers are having to source their hard currency needs.

The special auction follows Qatar's pledge last week to buy $3 billion in government bonds - a boost to foreign currency reserves that had fallen to criticall
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