Egypt central bank sells €609.8 mln in euro-denominated T-bills

Ahram Online , Tuesday 13 Aug 2024

The Central Bank of Egypt (CBE) sold on Tuesday 609.8 million euros in euro-denominated treasury bills (T-bills), with a 364-day maturity period, according to the bank’s website.

The Central Bank of Egypt
The Central Bank of Egypt building in the new Administrative capital. Photo courtesy of FEB website.

 

The number of bids submitted for tender was about 28 worth around 729.8 million euros, with a minimum yield of 3.7 percent, a maximum yield of 4.7 percent, and a weighted average yield of 3.894 percent.

The 21 accepted bids amounted to 609.8 million euros, with a minimum yield of 3.740 percent, a maximum yield of 3.750 percent, and a weighted average yield of 3.750 percent.

The CBE had initially issued 600 million euros in euro-denominated T-bills, with a 364-day maturity period. 

Furthermore, the central bank has taken various steps to increase its international reserve to resolve the problem of foreign currency shortage.  

In January, the bank issued $830 million in USD-dominated T-bills, with a one-year maturity period.

In November and December 2023, it issued $990 million and $1.61 billion in USD-denominated T-bills. 

Additionally, the CBE auctioned 645 million euros in T-bills in November 2023, following a 600 million euros issuance in August 2023.

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