Egypt sells $1.728bn in one-year dollar-denominated treasury bonds in auction

Egypt has sold $1.728 billion in one-year dollar-denominated treasury bonds to local and foreign financial institutions in an auction, the central bank said on Monday.

The average yield for the bills, which mature on November 20 2018, was 3.496 percent.

Appetite for Egypt’s domestic debt has grown since the central bank floated the pound currency in November 2016 as part of a deal for a $12 billion International Monetary Fund loan.

Source: Reuters