Business & Finance
Egypt central bank accepts repos worth 6.2bn Egyptian pounds
CAIRO : Egypt 's central bank accepted 6.227 billion Egyptian pounds ($1.04 billion) in seven-day repurchase agreements
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CAIRO: Egypt's central bank accepted 6.227 billion Egyptian pounds ($1.04 billion) in seven-day repurchase agreements in the money market (CBES) on Tuesday, the entire amount was offered.
The bank had asked for 7 billion pounds. The repos carry a fixed rate of 9.25 percent.
The central bank introduced its weekly repo offerings on March 20 to keep short-term interest rates under control after the political and economic unrest that ousted President Hosni Mubarak on Feb. 11.
Copyright Reuters, 2011
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