Egypt sells more 91-day T-bills than offered

Reuters, Monday 9 Jan 2012

Egypt's central bank sold more 91-day treasury bills than originally offered at an auction on Monday, but trimmed the amount of 266-day T-bills it sold, the finance ministry said on its website.

The bank sold LE5.589 billion ($925.99 million) in domestic treasury bills, slightly more than the LE5.5 billion it had offered, the ministry said.

It sold LE2.707 billion of 91-day T-bills on behalf of the ministry instead of the LE2 billion it had offered. The average yield fell to 13.833 per cent from 13.95 per cent at last week's auction.

It also sold LE2.882 billion of 266-day T-bills, instead of the LE3.5 pounds it had offered, as the average yield rose to 15.386 per cent from 15.26 per cent at the last issue on 27 December.

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