CAIRO: Egypt’s central bank bought fewer treasury bills than it had offered for at an auction on Thursday as yields on the bills rose, the Finance Ministry said.
The central bank sold LE 2.75 billion ($456 million) of 182-day T-bills instead of the LE 3 billion it asked for. The average yield rose to 14.751 percent from 14.693 percent at last week’s auction.
It also sold LE 2.044 billion of 364-day T-bills instead of the LE 3.5 billion it sought. The average yield rose to 15.399 percent from 15.193 percent at the last issue on Dec 13.
The central bank sells T-bills on behalf of the Finance Ministry.