CBE Requests EGP60 bln from Banks at 27th Deposit Operations Auction

Egypt’s Central Bank (CBE) is requesting around 60 billion Egyptian pounds of domestic surplus liquidity from local banks in the 27^th auction for Deposit Operations with 8.75% interest and 7-day maturity.

CBE had accepted around EGP 55 billion from banks in an auction for deposit operations last week, out of EGP 94 billion offered liquidity.

The value of domestic liquidity obtained by CBE from banks since early April totaled EGP 855.4 billion.

The central bank aims through this system to absorb excess liquidity in the local market.