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Egypt sells LE5 billion in treasury bills, yields rise

Reuters, Monday 31 Oct 2011

Central bank sells another batch of short-term debt, with yields continuing to climb

Egypt's central bank sold LE5 billion (US$837.55 million) in domestic treasury bills on Sunday, the same amount it had offered, the Finance Ministry said.

The central bank sold LE1.5 billion of 91-day T-bills on behalf of the ministry. The average yield rose to 12.298 per cent from 12.242 per cent at last week's auction.

It also sold LE3.5 billion of 273-day T-bills and the average yield rose to 13.84 per cent from 13.625 per cent at the last issue on 18 October.

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