Egypt’s c.bank attracts 55.4 bln pounds in investments in two-day auctions

The Central Bank of Egypt (CBE) has attracted 55.4 billion Egyptian pounds ($3.5 billion) in investments in the four treasury bills auctions held on Sunday and Monday.

The proceeds of the auctions, held on behalf of the finance ministry, are being used to bridge the gap in the state budget deficit.

The last T-bills auction the CBE held on Monday attracted 19 billion pounds, according to the bank.

CBE offered on Monday two types of T-bills in Egyptian pounds worth 19 billion pounds, including 91-day yield T-bills at 8.5 billion pounds, and 266-day yield T-bills worth 10.5 billion pounds to bridge the state’s budget deficit gap.

The bank accepted 81 out of 153 bids worth 19.4 billion pounds for the 266-day yield T-bills, and opted for 124 out of 207 bids worth around 20 billion pounds for the 91-day yield T-bills.