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Egypt mulls dollar-denominated bonds, bills in local market

Egypt mulls dollar-denominated bonds, bills in local market
The Egyptian government is currently studying the launch of treasury bonds and bills denominated in the US dollar in the local market, instead of offering them overseas, with the aim of generating cash liquidity in foreign currencies, said an official at the Finance Ministry.
Egypt began to issue US dollar treasury bonds and bills in November, 2011. It issued such bonds for five times, the latest of which was in June 2012, at $526 million and interest rate reached 3.715%.
The official, who spoke to Anadolu Agency on condition of anonymity, added that the Egyptian government is not considering issuing bonds in euro currently.