3 January 2014

Egypt: Finance Ministry Auctions Egp Six Billion T-Bills

Ministry of Finance on Thursday 02/01/2014 auctioned treasury bills at a total value of EGP 6 billion.

In statements, the ministry said it sold EGP 2.5 billion of 182-day T-bills with a 1.91 bid-to-cover ratio. The average yield was 10.874%, it said, adding it accepted bids at rates between 10.84% and 10.9%.

As for the 364-day T-bills, they achieved average revenue of 11.126%, the ministry said, adding it accepted bids at rates between 10.999% and 11.15%.

They recorded a 3.02 bid-to-cover ratio. The Central Bank of Egypt (CBE) auctions T-bills on behalf of the Finance Ministry.

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