CBE: Yield On EGP 6 Bln T-Bills Drops

The Central Bank of Egypt (CBE) said the yields declined on EGP 6 billion ($990.9 million) in treasury bills sold at an auction on Thursday.

The average yield on EGP 2.5 billion of 182-day bills sold by CBE dipped to 15.421 percent from 15.532 percent at last week’s auction, while the yield on EGP 3.5 billion of 357-day bills slid to 15.871 percent from 15.907 percent.

CBE, which sells the bills on behalf of the Ministry of Finance, sold the same amounts it had originally offered, Reuters reported.