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Thursday, 23 January 2020

Egypt to auction $1 billion in one-year dollar T-bills on Monday: Central bank

Reuters , Thursday 7 Feb 2019
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Egypt will auction $1 billion in one-year dollar-denominated treasury bills on Monday, the central bank said on Thursday.

The auction will be settled on Feb. 12.

Egypt sold $854 million in dollar-denominated bills at an average yield of 3.797 percent at a similar auction on Jan. 6.

Dollar T-bills worth $1.075 billion are due to mature on Tuesday.

Officials say they are trying to diversify the country’s sources of foreign debt and lengthen its average maturity.

Egypt’s short-term dollar-denominated debt had fallen to about $14 billion as of the end of 2018, the deputy finance minister said on Sunday.

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