Egypt’s c. bank auctions EGP 60b T-bills

The Central Bank of Egypt (CBE) is offering 60 billion Egyptian pounds in treasury bills (T-bills) on Thursday, in coordination with the Ministry of Finance, according to a CBE statement on its website.

The offerings are being offered in two tranches: 30 billion pounds for 182-day and another 30 billion pounds for 364-day. Treasury bills are short-term government debt instruments issued with maturities ranging from 3 months to a year.

The bank issued on Tuesday a fixed-rate deposits at 27.75 per cent for seven days, totalling 150 billion pounds.