Cairo - Mubasher: Returns on the Egyptian government’s treasury bills increased on Sunday’s auction, as per the date of the Egyptian ministry of finance (MoF).
The jump in returns comes after the decision by the Central Bank of Egypt (CBE) to raise the interest rates by 300 basis points or 3%.
The return on the 91-day bills averaged 19.056%, with the highest rate at 19.252% and the lowest at 14.5%.
Meanwhile, the average return on the 266-day bonds reached 20.367%, with the highest return at 20.5%, and the lowest at 19.601%, according to the MoF.
The return on the 91-day bills and the 266-day bills recorded 14.594% and 16.545% on 23 October, while the last week auction was cancelled.
Earlier, the CBE announced it will issue treasury bills worth EGP 11.25 billion on Sunday’s auction.
