Egypt central bank to offer 25bn Eg pounds in repos

CAIRO: Egypt's central bank said it would offer 25 billion Egyptian pounds ($4.13 billion) in seven-day repurchase agreements in the money market on Tuesday at a fixed rate of 9.75 percent.

The bank introduced seven-day repos in March 2011 to manage short-term interest rates after the political and economic unrest that ousted President Hosni Mubarak.

Last week, the central bank accepted 22 billion pounds, less than the 23 billion pounds it had offered.