Cairo – Mubasher: Returns on the government’s five-year treasury bonds increased in Monday’s auction, backed by the Central Bank of Egypt’s (CBE) decision to raise interest rates by 100 points, according to date released by the Ministry of Finance (MoF).
Treasury bonds worth EGP 2.5 billion to mature within 5 years were issued at an average return of 16.051%, up from 15.684% recorded in the previous auction on 6 June.
The MoF did not indicate whether or not the auctions for 10-year treasury bonds issued today and amounting to EGP 500 million were accepted.
The CBE on Thursday raised interest rates to 11.75% from 10.75%.
