CBE Sells EGP 4 Bln T-Bills

By Administrator On May 21, 2012

Central Bank of Egypt said the yield on 266-day treasury bills rose at an auction on last Sunday and the regulator raised more than it had asked for.

The average yield climbed to 15.863% from 15.616% at the last issue on May 1. CBE sold EGP 4 billion ($578.8 million) worth of bonds instead of the EGP 3.5 billion it had initially sought.

The Central Bank sells the bills on behalf of the Ministry of Finance, Reuters reported.