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Yields rise at Egyptian 6 month treasury bill auction

Central bank says it has sold LE5.5 billion in bills with yields on 6 months debt seeing a marginal climb

Reuters, Thursday 5 Apr 2012
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The average yield on 6 months Egyptian treasury bills inched up at an auction on Thursday and the central bank sold all the bills it was offering, the Ministry of Finance said.

The average yield was 14.856 per cent, up from 14.829 per cent at an auction last week. The bank sold bills worth 2 billion Egyptian pounds ($331.2 million).

The average yield on one year T-bills also auctioned on Thursday was 15.729 per cent, down from 15.768 at the last issue, and it sold 3.5 billion pounds of the bills.

The central bank sells the bills on behalf of the ministry.

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