C. Bank Sells EGP5.5 bln T-Bills on Sunday

On behalf of the Egyptian Finance Ministry, the Central Bank of Egypt has offered today 91- and 266-day treasury bills worth EGP5.5 billion.

Throughout its official website, the CBE stated that the first offering; 91-day is at value of EGP 2billion, registering 10.662% average return, 10.69% highest return and 10.50% lowest return, in addition the maturities have been covered 2.82 times

whereas the second offering; the 266-day amounts to EGP 3.5 billion, recording  11.236 %average return, 11.249% highest return and 11.19% lowest return along with 2.59 times have been covered.

The Ministry is targeting to borrow EGP27.5 billion from offering 91-day treasury bills within the second quarter of this year (October-December) while 273-day reaches EGP48.5 billion in the same period.