Egypt’s central bank attracts EGP 21 billion with T-bill auctions

Egypt’s central bank attracts EGP 21 billion with T-bill auctions

The Central Bank of Egypt has managed to attract more than EGP 21 billion in investments from EGP treasury bills (T-bills).

The CBE offered 266-day T-bills and 91-day T-bills in an auction on Sunday with the aim of attracting EGP 19 billion, with interest rates ranging between 12.9 percent and 13.6 percent.

There were 278 bids made for the 266-day term T-bills, while 222 bids were submitted for the 91-day T-bills, with total investments reaching over EGP 43 billion.

The CBE has accepted 207 bids for the 266-day T-bills, with total investments of about EGP 15.6 billion, and 140 bids for the 91-day T-bills, with total investments of about EGP 5.9 billion, bringing the total to more than EGP 21 billion.

T-bill auctions are an instrument that the