Egypt Central Bank Accepts Repurchase Agreements Worth LE 10 Bln

Egypt’s central bank accepted LE10.0 billion ($1.6 bn), slightly lower than the 10.6 billion it had offered, in seven-day repurchase agreements on Tuesday.

The repos carry a fixed rate of 9.75 per cent.

The central bank introduced weekly repo offerings in March 2011 to manage short-term interest rates during the political and economic unrest in the wake of the toppling of President Hosni Mubarak.

Ahram