Egypt cbank to offer 6 bln EGP in repos Tuesday

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CAIRO: Egypt’s central bank said it will offer LE 6 billion ($1.0 billion) in repurchase agreements in the money market on Tuesday at a fixed rate of 9.25 percent.

The central bank introduced the weekly seven-day repo agreements on March 22 to help steady short-term interest rates in the wake of the political and economic unrest that led to former president Hosni Mubarak stepping down.

Last week, the central bank offered and accepted repos worth LE 6 billion.


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