Egypt issues EGP 13.25 billion in treasury bills

Ahram Online , Sunday 15 Oct 2017

File Photo: A customer counts his U.S. dollar notes in a bank in Cairo, Egypt (Photo: Reuters)

Egypt said on Sunday it issued treasury bills worth EGP 13.25 billion ($744 million), state owned MENA agency reported.

In an official statement, Egypt's finance ministry said a 91-day-term treasury bill was issued worth EGP 6.5 billion with an average yield of 18.984% from 19.001% at the last sale.

A 273-day-term treasury bill worth EGP 6.75 billion was also issued with an average yield of 17.977% from 18.03% at the last auction, according to the statement.

Egypt's domestic debt has been attracting buyers since the country liberalized its currency in November 2016 and increased key interest rates by 7 percent.

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