Cairo – Mubasher: The returns on the Egyptian government’s treasury bills increased on Sunday’s auction, according to date released by the Ministry of Finance (MoF).
On Monday’s auction, the average return on the 91-day bills reached 18.917% compared to 18.513 in last week’s auction.
The ministry added that the return on the 266-day bills went up to 19.103% from 18.814%.
The Central Bank of Egypt (CBE) announced earlier that it will issue treasury bills worth EGP 7.5 billion to support the country's budget deficit
On 3 November, the CBE decided to float the Egyptian pound and to raise interest rates by 300 basis points, which lead to a huge jump in the returns on treasury bonds.
