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CBE sells EGP 7.65bn T-bills

CBE sells EGP 7.65bn T-bills
The sale included 91-day notes valued at EGP 243.3 million

Cairo – Mubasher: The Central Bank of Egypt (CBE) announced the sale of treasury bills (T-bills) worth EGP 7.65 billion on Sunday on behalf of the Ministry of Finance after offering EGP 14.5 billion worth of T-bills.

The sale included 91-day notes valued at EGP 243.3 million, less than the target of EGP 4 billion, at an average yield of 12.9%, compared to 12.98% for a previous auction for 91-day T-bills on 3 March, the CBE said on its official website.

Egypt received orders for 91-day notes valued at EGP 3.85 billion with an average yield of 14.25%.

In addition, the CBE also sold 266-day notes valued at EGP 7.4 billion, less than the target of EGP 10.5 billion, at an average yield of 14.34%, compared to 14.14% for a previous auction for T-bills with the same maturity on 25 February.

The central bank obtained offers for 266-day notes worth EGP 16.67 billion at an average yield of 14.44%.