Egypt's Central Bank to offer 10 bn pounds repos on Tuesday

Reuters, Monday 13 Jun 2011

Egypt's central bank said it will offer LE10 billion ($1.68 billion) in seven-day repurchase agreements in the money market on Tuesday at a fixed rate of 9.25 per cent.

The central bank introduced the weekly seven-day repo agreements on 22 March to keep short-term interest rates under control after a popular uprising ousted President Hosni Mubarak.

Last week it offered repos worth 6 billion pounds and accepted the same amount it had offered.

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