Egypt CBE issues EGP 62 bln T-bills

By Nada Ali On Feb 18, 2024

Egypt's central bank remittances rates Remittances — Egypt's central bank (CBE photo)

The Central Bank of Egypt (CBE) is offering on Sunday treasury bills (T-bills) worth 62 billion Egyptian pounds in coordination with the Ministry of Finance, Federation of Egyptian Banks (FEB) reported.

The bills will be available in two tranches. The first offering is for 35 billion pounds for 91 days and the second offering is for 27 billion pounds for 273 days, the central bank elaborated on its website.

The CBE auctioned off 70 billion pounds in treasury bills last Thursday, offering two tranches: 35 billion pounds for a 182-day period and another 35 billion pounds for a 364-day period.

The Ministry of Finance has authorised the CBE to conduct its own auctions of treasury bills and bonds in Egyptian pounds for the fiscal year 2023-2024. The proceeds will be used to fund general budget expenditure for the current fiscal year.

CBE Central Bank of Egypt (CBE)Egypt Egypt's central bank Egyptian Ministry of Finance Egyptian Treasury Bills Federation of Egyptian Banks (FEB)