Egypt central bank to ask for 13bn EG pounds in repos

CAIRO: Egypt's central bank said it will ask for 13 billion Egyptian pounds ($2.18 billion) in eight-day repurchase agreements in the money market on Tuesday at a fixed rate of 9.25 percent .

The central bank introduced the weekly repo agreements in March to keep short-term interest rates under control after a popular uprising ousted President Hosni Mubarak.

Last week the bank accepted 5 billion pounds,the same amount it had asked for, while the amount offered was 5.765 billion pounds.