Yields tumble at Egypt 91-, 266-day treasury bill auction

Reuters, Sunday 23 Sep 2012

The average yields on LE4.5 billion ($738.49 million) of 91- and 266-day treasury bills fell sharply at a central bank auction on Sunday, the Ministry of Finance said.

The average yield on LE1 billion of 91-day bills dropped to 12.396 per cent, its lowest since November last year, from 13.747 per cent at an auction on 9 September.
The yield on LE3.5 billion of 266-day bills tumbled to 13.354 per cent, its lowest since August last year, from 15.486 at the 9 September auction.
Interest rates on the Egyptian government's debt have fallen from historic highs in recent weeks as optimism grows that it will secure help for a struggling economy from the International Monetary Fund and other foreign donors.
The central bank sold all the bills it had offered on behalf of the finance ministry.
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