Egypt pound continues fall at Thursday dollar auction

CAIRO, Jan 10 (Reuters) - The Egyptian pound weakened

at a central bank auction of dollars on Thursday, the eighth

such sale since it introduced a new regime to reduce pressure on

its currency.

The bank said the cut-off price at the auction was 6.5099

pounds to the dollar - a 0.47 percent fall from Wednesday when

the cut-off price was 6.4797 pounds. The central bank said it

had sold $49.1 million at the auction, less than the $50 million

it had offered.

On the interbank market, the central bank limits trades to a

0.5 percent band above or below the weighted average of bids at

the most recent currency auction. The weighted average weakened

to 6.5099 pounds to the dollar from 6.4798 on Wednesday.

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