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Egypt c.bank raises EGP7bln in T-bills

Egypt c.bank raises EGP7bln in T-bills
Photo Credit: Arabianeye-Reuters

The Central Bank of Egypt (CBE) said it sold 182- and 357-day treasury bills in an auction Thursday.
182-day T-bills worth EGP 3 billion were sold at an average yield of 11.212%. Maximum and minimum yields amounted to 11.240% and 10.500% respectively. The issue was covered 1.99 times.
Meanwhile, the 357-day T-bills worth EGP 4 billion were sold at an average yield of 11.318%. Maximum and minimum yields amounted to 11.370% and 10.700% respectively. The issue was covered 2.19 times.
The value of treasury bills and bonds issued in 2013/2014 amounted to EGP 963.2 billion, compared with EGP 725.7 billion a year earlier.
Photo Credit: Arabianeye-Reuters