Egypt cbank to offer LE 22 bln in short-term debt

Reuters, Monday 26 Dec 2011

Egypt's central bank said it would offer 22 billion Egyptian pounds in seven-day repurchase agreements in the money market on Tuesday at a fixed rate of 9.75 per cent.

The central bank introduced the weekly repo agreements in March to help it manage short-term interest rates after the popular uprising ousted president Hosni Mubarak.

Last week the bank offered 20 billion pounds and accepted repos worth 17.915 billion pounds.

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