Egypt issues treasury bills worth 13.25bn pounds: MENA

Egypt said on Sunday it issued treasury bills estimated at 13.25 billion Egyptian pounds($744 million), state owned MENA agency reported.

In an official statement, Egypt’s finance ministry said a 91-day-term treasury bill was issued worth 6.5 billion pounds with an average yield of 18.984percent from 19.001 percent at the last sale.

A 273-day-term treasury bill worth 6.75 billion pounds was also issued with an average yield of 17.977 percent from 18.03 percent at the last auction, according to the statement.

Egypt’s domestic debt has been attracting buyers since the country liberalized its currency in November 2016 and increased key interest rates by seven percent. Source: Ahram online