The Central Bank of Egypt (Photo: Al-Ahram)
According to the CBE's official website, the two issues are as follows:
An EGP 26.5 billion auction with a 364-day tenor to be matured on 8 October 2024. The issuance received EGP 33.4 billion in bids with a coverage rate of 126.5 percent.
An EGP 20 billion auction with an 182-day tenor to be matured on 9 April 2024. The issuance received EGP 9.66 billion in bids, which covers only 48.3 percent of the value offered.
The CBE issues T-bills on behalf of the Ministry of Finance to fund the budget deficit.