Yields edge higher on Egypt treasury bills

Reuters, Thursday 9 Aug 2012

Average for six-month bills hits 15.3 per cent as bank tries to entice buyers

Yields inched higher at an auction of Egyptian treasury bills on Thursday, with the government selling LE5.5 billion ($904.5 million) of 6-month and year's notes, the Central Bank of Egypt said.

The average yield on the 6-month T-bills was 15.29 per cent, up from 15.199 per cent at an auction last week. The bank sold LE2 billion, the same amount it had offered.

The average yield on the annual bills was 15.845 per cent, up from 15.749 per cent at the last issue on 31 July. The bank sold LE3.5 billion, the same it had sought.

The central bank sells the bills on behalf of the finance ministry.

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