Egypt accepts repos worth 11.5 bln Eg pounds

CAIRO: Egypt’s central bank accepted 11.517 billion Egyptian pounds in seven-day repurchase agreements in the money market on Tuesday, the entire amount was offered.

It had asked for 14 billion pounds.

The repos carry a fixed rate of 9.75 percent.

The central bank introduced its weekly repo offerings on March 20 to manage short-term interest rates after the political and economic unrest that ousted President Hosni Mubarak.

Source: Reuters