Egypt’s CBE offers fixed-rate deposits of EGP 150b

By Nada Ali On Feb 27, 2024

The Central Bank of Egypt (CBE) offers on Tuesday a fixed-rate deposits of 21.75 per cent for seven days, worth 150 billion Egyptian pounds, Federation of Egyptian Banks (FEB) reported on Tuesday.

The total value of the offered bids is 1,293,181 million Egyptian pounds, according to the bank’s website, adding that the number of accepted bids has reached 29.

The Egyptian central bank uses the open market deposit system to absorb surplus liquidity from banks.

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