Egypt sells 5.5 bln pounds in Treasury bills, yields rise

Reuters, Sunday 13 Nov 2011

Average yields on nine-month bills and three-month rose to 14.251 and 12.781 per cent, respectively

Egypt's central bank sold 5.5 billion Egyptian pounds ($920 million) in domestic treasury bills on Sunday, the same amount it had offered, the Finance Ministry said.

The central bank sold 2 billion pounds of three-month T-bills on behalf of the ministry. The average yield rose to 12.781 per cent from 12.385 per cent at last issue on Nov. 8.

It also sold 3.5 billion pounds of nine month T-bills and the average yield rose to 14.251 per cent from 13.840 per cent at the last issue on Nov. 1.

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