Egypt reduces size of T-bill sale as yields rise

CAIRO: Egypt’s central bank said it sold LE 5.79 billion ($973.83 million) in domestic treasury bills on Sunday, less than the LE 6.5 billion it was seeking. The bank sold LE 3 billion of 91-day T-bills, the same amount it had asked for, at an average yield of 11.761 percent, up from 11.602 percent at …

CAIRO: Egypt’s central bank said it sold LE 5.79 billion ($973.83 million) in domestic treasury bills on Sunday, less than the LE 6.5 billion it was seeking.

The bank sold LE 3 billion of 91-day T-bills, the same amount it had asked for, at an average yield of 11.761 percent, up from 11.602 percent at last week’s auction.

The bank also sold LE 2.79 billion of 273-day T-bills at an average yield of 12.944 percent, up from 12.865 percent at the last issue on May 31. It had sought bills worth LE 3.5 billion.

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