Egypt C.Bank Sells 513 Mln Euros Of T-Bills

Egypt’s central bank said it sold 513 million euros ($642 million) worth of euro-denominated T-bills at an average weighted yield of 3.245 percent at its inaugural auction on Tuesday.

The yields ranged from 2.85 percent to 3.26 percent.

The central bank originally offered commercial banks 400 million euros of the bills when it first announced the auction last week.

It was the first time for the central bank to sell euro T-bills. In November it introduced T-bills denominated in U.S. dollars and has sold $5.83 billion of those bills in six auctions so far.

Reuters