Egypt central bank to offer 3 bln EG pounds in repos

CAIRO: Egypt's central bank said it will offer 3 billion Egyptian pounds ($502.6 million) in seven-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 it asked for repos worth 8 billion pounds and accepted the same amount it had requested.

Copyright Reuters, 2011