Egypt Sells EGP 6 Bln T-Bills On Wednesday

By Administrator On Jan 23, 2013

The Egyptian Ministry of Finance sold 182- and 364-day T-bills worth EGP 6 billion in an auction today.

The yield on 182-day T-bills (worth EGP 2.5 billion) ranged from 13.249% to 13.640, while the average rate registered 13.607%.

The yield on 364-day T-bills (worth EGP 3.5 billion) ranged from 14.004% to14.040%, while the average rate registered 13.249%.

It is worth noting that the Ministry of Finance had failed to sell 5-and 7- year T-bonds worth EGP 2 billion last Monday because banks demanded higher returns.

The Ministry of Finance sells T-bills and bonds to finance the aggravating budget deficit which is expected to reach EGP 200 million by the end of the current fiscal year.

The Central Bank of Egypt (CBE) sells T-bills on behalf of the Ministry of Finance.