Yields On Egyptian 266-Day T-Bills Climbs

Yields on 266-day treasury bills rose at an auction on Sunday and the central bank bought fewer than it had asked for, while yields on 91-day T-bills eased, the bank said.

The average yield on the 266-day bills rose to 15.863 percent from 15.652 percent at the last auction on July 29. The central bank had initially asked for 3.5 billion Egyptian pounds ($575.04 million) of the bills but only accepted 3 billion pounds worth.

On Aug. 12, the central bank cancelled an auction of 3.5 billion pounds in 266-day T-bills.

The average yield on the 91-day bills fell to 14.227 percent from 14.241 percent at last week’s auction. The bank accepted 1 billion pounds of the bills, the same amount it had sought.

The central bank auctions the T-bills on behalf of the Ministry of Finance.

Reuters