Egypt cbank to offer 6 bln EGP in repos on Tuesday

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CAIRO: Egypt’s central bank said it will offer LE 6 billion ($1.007 billion) in seven-day 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 in March to keep short-term interest rates under control after a popular uprising ousted president Hosni Mubarak.

Last week it offered repos worth LE 20 billion but accepted only LE 16.684 billion.


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