Business & Finance
Egypt reduces size of T-bill sale
CAIRO : Egypt 's central bank sold 4 billion Egyptian pounds ($671 million) in domestic treasury bills on Sunday, parin
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CAIRO: Egypt's central bank sold 4 billion Egyptian pounds ($671 million) in domestic treasury bills on Sunday, paring 1.5 billion pounds from the amount it had offered, Egypt's Finance Ministry said.
The central bank sold 2 billion pounds of 91-day T-bills, the same amount it had offered, on behalf of the ministry. The average yield rose to 11.995 percent from 11.928 percent at last week's auction.
It sold only 2 billion pounds of 266-day T-bills, instead of the 3.5 billion pounds it had asked for. The average yield rose to 12.981 percent from 12.943 percent at the last issue on Aug 9.
Copyright Reuters, 2011
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