Close ad

Egypt central bank hopes to raise LE6 billion in short-term capital on Tuesday

Reuters, Monday 4 Jul 2011

Bank releases another batch of seven-day repurchase agreements in a bid to keep short-term interest rates under control

Egypt's central bank said it will offer 6 billion Egyptian pounds (US$1.007 billion) in seven-day repurchase agreements in the money market on Tuesday at a fixed rate of 9.25 per cent CBES.

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

Last week it offered repos worth LE20 billion pounds but accepted only LE16.684 billion pounds. 

Short link:

 

Also In Economy

# US Federal Reserve keeps key interest rate unchanged
# Stock market today: Wall Street drifts on signals of solid US economy
# PM Madbouly dismisses reports of Banque du Caire sale
# Explainer: All you need to know about Egypt's Integrated National Financing Strategy
# Soaring prices push Egyptians to gift everyday goods this Ramadan, Eid and Mother’s Day
# Egypt primary surplus hits all-time high of EGP 330 bln in FY24/25: Minister
# INTERVIEW - Egypt GDP growth to recover gradually due to remittances, investment uptick: World Bank
# Egypt to raise prices of retail fuel products twice till end-2025: Sources
#