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Egypt sells EGP 20.5bn T-bills on Thursday

Egypt sells EGP 20.5bn T-bills on Thursday
The sale included 182-day notes

Cairo – Mubasher: The Central Bank of Egypt (CBE) on Thursday announced the sale of treasury bills (T-bills) worth EGP 20.5 billion, ahead of the announcement of the bank’s decision on interest rates.

The sale included 182-day notes worth EGP 10 billion at an average yield of 13.81%.

The CBE also sold 357-day notes valued at EGP 10.5 billion at an average yield of 13.64%.

In January, the Monetary Policy Committee of the CBE decided to maintain the current interest rates. The overnight deposit rate and the overnight lending rate were kept unchanged at 12.25% and 13.25%,