CBE Sells EGP 5.5 Bln T-Bills

The Central Bank of Egypt (CBE) said yields rose at an auction of treasury bills on Thursday, with the government selling EGP 5.5 billion (=US$905.05 million) of 182-day and 357-day notes.

The average yield on EGP 2 billion of 182-day bills maturing on Feb. 19, 2013, was 15.345 percent, up from 15.290 percent at the previous auction on Aug. 9. The range of yields was 15.0-15.392.

On the EGP 3.5 billion of 357-day bills sold, the average yield rose to 15.931 percent from 15.755 percent at the last auction on Aug. 2. The range of yields was 15.80-15.970, Reuters reported.

The Central Bank of Egypt sells the bills on behalf of the Ministry of Finance.