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Egypt’s central bank sells EGP 43 bln T-bills on Sunday

Ahram Online , Sunday 8 Oct 2023

The Central Bank of Egypt (CBE) has accepted EGP 43.05 billion in bids for two issuances on T-bills offered on Sunday.

The Central Bank of Egypt.
The Central Bank of Egypt (Photo: Al-Ahram)

 

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According to the CBE's official website, the two issues are as follows:

An EGP 26.5 billion auction with a 364-day tenor to be matured on 8 October 2024. The issuance received EGP 33.4 billion in bids with a coverage rate of 126.5 percent.

An EGP 20 billion auction with an 182-day tenor to be matured on 9 April 2024. The issuance received EGP 9.66 billion in bids, which covers only 48.3 percent of the value offered.

The CBE issues T-bills on behalf of the Ministry of Finance to fund the budget deficit.

 

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