Egypt issues $897.9mn one year T-bill at average yield of 3.248 pct: CBE

Egypt’s central bank said Monday it sold $897.9 million in one-year treasury bills at an average yield of 3.248 percent.

The government has mostly relied on the local money market to finance its deficit since the ouster of autocrat Hosni Mubarak in early 2011, which has been followed by years of political and economic volatility that has deterred foreign investors and tourists – a major source of hard currency.