Cairo – Mubasher: The Central Bank of Egypt (CBE) announced the sale of one-year USD-denominated treasury bills (T-bills) for $509.3 million.
The average yield on the USD-denominated T-bills amounted to 3.45%, the CBE said in a statement on Tuesday.
It is worth mentioning that at the end of May, the country’s international reserves slid by about $1 billion to $36.003 billion from $37.037 billion in April.
The most populous Arab nation received a $2.7 billion loan from the International Monetary Fund (IMF) under the rapid financing instrument (RFI) to help mitigate the impact of the coronavirus (COVID-19).
On Friday, Egypt reached a staff-level agreement with the IMF on a $5.2 billion standby loan.
