Egypt’s c. bank auctions fixed-rate EGP 150b deposits

By Nada Ali On Mar 12, 2024

The Central Bank of Egypt (CBE) auctioned on Tuesday a fixed-rate deposits at 27.75 per cent for seven days, totalling 150 billion Egyptian pounds, according to CBE statement on its website.

The deposits will mature on 19-3-2024, with the amount set at 150 billion pounds, as per the bank’s statement.

The CBE uses the open market deposit system to absorb surplus liquidity from banks through fixed-rate deposits.

CBE Central Bank of Egypt Central Bank of Egypt (CBE)Egypt's central bank fixed-rate deposits open market deposit system