Average yields on Egyptian T-bills fall at auction

CAIRO: Average yields on Egypt's six-month and one-year treasury bills fell at auction on Thursday, central bank data showed.

The average yield on the 182-day bills fell to 19.276 percent from 19.392 percent at the previous auction. The yield on the 364-day bills dropped to 18.988 percent from 19.032 percent previously.

Foreigner have been buying into Egyptian government debt, lured by high yields after the central bank floated the Egyptian pound in November.

Samy Khallaf, head of public debt at Egypt's Finance Ministry, said foreign investors held Egyptian government securities totalling 91.8 billion Egyptian pounds ($5.11 billion) as of April 25.

That is sharply higher than the roughly 9 billion pounds held in January.