CAIRO: The average yield on Egyptian 182 and 357 day treasury bills rose sharply in an auction on Thursday, figures released by the central bank showed, following an interest rate hike last week.
The average yield on 182-day T-bills for April 2 issue rose to 13.813 percent from 13.031 percent at the previous issue on March 26.
The yield on 357-day T-bills also for April 2 issue rose to 14.463 percent from 13.776 percent in the previous issue on March 19.
The central bank's Monetary Policy Committee announced last Thursday a 50 basis point increases in both its main rates, taking the overnight deposit rate to 9.75 percent and the overnight lending rate to 10.75 percent.
The central bank sold 2.8 billion Egyptian pounds' ($411.80 million) worth of 182-day T-bills and 4 billion pounds' worth of 357-day bills.
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