Yields fall at Egypt nine-month T-bill auction

CAIRO: The average yield declined on 273-day treasury bills auctioned by Egypt's central bank on Sunday, the Ministry of Finance said.

The average yield edged down to 15.642 percent from 15.829 percent at the last issue on March 21 and the bank sold all the 3.5 billion Egyptian pounds ($579.5 million) of bills it had sought.

The bank also sold 91-day T-bills, the first auction of that tenor since Jan. 10.

The yield climbed to 14.008 percent from 13.833 percent at the last issue. The central bank sold all 2 billion Egyptian pounds it had asked for.

The central bank sells the bills on behalf of the finance ministry.