CBE Requests EGP45 bln at 35th Auction of Deposit Operation

By Yomna Yasser On Apr 1, 2014

Egypt’s Central Bank (CBE) is requesting on Tuesday around 45 billion Egyptian pounds of domestic surplus liquidity from local banks in the 35^th auction for Deposit Operations with 8.75% interest and 7-day maturity.

CBE had already accepted around EGP 50 billion from banks in an auction for deposit operations last week, out of EGP 90.040 billion offered from banks.
The central bank aims through this system to absorb excess liquidity in the local market.