Egypt issues €732.2 mln in T-bills at avg yield of 2.283 pct

Egypt’s central bank stated Monday that it had sold 732.2 million euros in Euro-denominated one-year treasury bills at an average yield of 2.283 percent.

The minimum yield was 2.209 percent and the maximum yield was 2.29 percent.

Egypt last sold 674.5 million euros in one-year treasury bills at an auction in August with an average yield of 2.289 percent.

The government has mostly relied on the local money market to finance its deficit since early 2011, when an uprising unleashed a prolonged period of political and economic volatility that deterred many foreign investors.

source:Reuters