CBE Sells T-bills For EGP 2 Bln

Ministry of Finance said the yield on treasury bills rose and the Central Bank of Egypt sold only EGP 2 billion instead of the EGP 3.5 billion worth it had asked for at an auction on Sunday.

The average yield on the 266-day bills rose to 15.616 percent from 15.529 percent at the last issue on April 17.

The central bank sells the bills on behalf of the finance ministry.