Egypt’s CBE auctions EGP 60b in T-bills

The Central Bank of Egypt (CBE) is offering 60 billion Egyptian pounds in treasury bills (T-bills) on Sunday, in coordination with the Ministry of Finance.

The auction shall be in two tranches: a 91-day T-bills worth 35 billion pounds to be maturated on 03/12/2024, and a 273-day T-bills worth 25 billion pounds to be maturated on 03/06/2025, as per the statement.

It’s worth noting that the central bank injected 65 billion pounds into the market through the issuance of two treasury bill tranches on August 29th.

Treasury bills are short-term government debt instruments with maturities ranging from three months to a year.

Attribution: CBE website

Subediting: Y.Yasser