The Central Bank of Egypt (CBE) is set to offer a local treasury bill tender denominated in US dollars on Monday, valued at $950m.
The proceeds of the tender will be used to repay the maturity of a previous tender launched on 4 February 2025, under which bids worth $1.061bn were accepted and are due to mature on Tuesday.
CBE had previously received 26 bids worth $937m to cover a similar tender launched on 29 December 2025 with a value of $800m. According to data published on CBE’s official website, it accepted 20 of those bids, totalling $817m, at a yield of 3.5%, while rejecting bids that demanded returns of up to 4%.
Subscription to these dollar-denominated treasury bills is open to local banks and foreign institutions, with a minimum subscription of $100,000 and its multiples.
Investors subscribe to the bills in USD using the same mechanism applied in local-currency treasury bill offerings. Each primary dealer bank submits its subscription request to CBE, specifying the amount it wishes to invest and the interest rate it seeks. CBE the aggregates the bids for review and accepts those deemed appropriate.
Returns on these dollar treasury bills are determined based on several indicators, including global USD interest rates, alternative investment opportunities available to local and foreign banks and financial institutions, and the country’s sovereign credit rating.
