Cairo – Mubasher: The returns on the Egyptian government’s treasury bills went down on Sunday’s auction, according to date released by the Ministry of Finance (MoF).
The average return on the 91-day bills reached 18.24% compared to 18.186% in last week’s auction.
On the other hand, the return on the 266-day bills decreased to 18.602% from 18.475%.
On 3 November, the Central Bank of Egypt (CBE) decided to float the Egyptian pound and to raise interest rates by 300 basis points.
The central bank of Egypt (CBE) announced earlier it is targeting to issue EGP 7.5 billion worth of treasury bills on Sunday, in cooperation with the ministry of finance to support the country’s state budget deficit.
