Egypt sells 5bn Egyptian pounds in T-bills, yields fall

CAIRO: Egypt's central bank sold 5 billion Egyptian pounds ($837.65 million) in domestic treasury bills on Sunday, the same amount it had offered, the Finance Ministry said.

The central bank sold 1.5 billion pounds of 91-day T-bills on behalf of the ministry. The average yield fell to 12.431 percent from 12.609 percent at last week's auction.

It also sold 3.5 billion pounds of 273-day T-bills and the average yield fell to 13.625 percent from 13.759 percent at the last issue on October 4.