Average yields on Egyptian three and seven-year T-bonds fall

CAIRO: The average yield on Egypt's three-year and seven-year treasury bonds fell at an auction on Monday, central bank data showed.

The average yield on three-year bonds was 16.094 percent, compared with 16.286 percent at the last auction on Nov. 27. The average seven-year bond yield fell to 16.114 percent from 16.192 percent.

Appetite for Egypt's domestic debt has risen since November 2016, when the central bank floated the pound currency. Since then Egypt has raised key interest rates by 700 basis points.