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Egypt treasury bill yields climb at LE6.5bn auction

Average yields at auction show rises, says central bank

Reuters , Thursday 3 Mar 2011
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Egypt's central bank said it sold LE6.5 billion ($1.1bn) in domestic treasury bills on Thursday and that average yields had risen.

Demand by foreigners for Egyptian treasury bills has plummeted since the political protests that toppled Hosni Mubarak first erupted on 25 January.

The average yield on LE3bn of 182-day T-bills rose to 12.085 per cent from 11.906 per cent at an auction last week, while the yield on LE3.5bn of 350-day T-bills climbed to 12.521 per cent from 10.541 per cent at the last auction on 21 December.

The central bank it said sold the same amount it had offered.

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