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Egypt sells $2.2 bln worth of domestic T-bills: ECB

As demand for Egypt's debt was beaten down over political unrest, ECB reduces its treasury bill auction by 2 billion pounds

Reuters, Monday 7 Feb 2011
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Views: 954

 Egypt's central bank reduced the size of a 15 billion Egyptian pound ($2.52 billion) treasury bill auction by 2 billion pounds on Monday, suggesting demand for the country's debt was subdued after two weeks of political unrest.

In its first auction after a week-long bank closure, the bank sold 7 billion pounds in 91-day bills compared to a planned 8 billion, and 4 billion pounds in 182-day bills versus 5 billion initially foreseen.

It sold 2 billion in 273-day bills as planned.

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