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Egypt government raises LE6 billion in short term finance

Latest sales of seven-day repurchase agreements at a 9.25 per cent fixed rate on Tuesday meet central bank's expectations

Reuters, Tuesday 12 Jul 2011
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Egypt's central bank accepted LE 6 billion ($1.008 billion) in seven-day repurchase agreements in the money market (CBES) on Tuesday, the same amount it had offered.

The repos carry a fixed rate of 9.25 per cent.

The central bank introduced its weekly repo offerings on March 20, to keep short-term interest rates under control after the political and economic unrest that ousted presidnet Mubarak on 11 February. 

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