Average yields fall on Egyptian T-bills

CAIRO: Average yields on Egypt's six-month and one-year treasury bills fell at an auction on Wednesday, data from the central bank showed.

The yield on the 182-day bill fell to 18.018 percent from 18.415 percent at the last similar auction, and the yield on the 357-day bill fell to 17.113 percent from 17.483 percent.

Egypt has raised key interest rates by 700 basis points since it floated the currency in November 2016, encouraging investors to buy its debt.