Yield at Egypt treasury-bill auction rises, size trimmed

Reuters, Sunday 22 Jan 2012

Central bank sells LE1 billion in bills, almost a quarter less than planned, as yields continue to rise

Egypt's central bank reduced the amount of 266-day treasury bills sold at an auction on Sunday as their yields increased, the Finance Ministry said.

The average yield on the bills rose to 15.802 percent from 15.386 per cent at the last issue on 10 January. The bank sold bills worth LE1 billion ($165.5 million) instead of the LE3.5 billion it had originally offered.

The central bank sells the bills on behalf of the Finance Ministry.

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