Egypt sells $715mn in one-year dollar-denominated T-bills

CAIRO: Egypt auctioned $715 million in one-year dollar-denominated treasury bills to local and foreign institutions, the central bank said on Monday.

The average yield for the bills was 3.297 percent, down marginally from a 3.298 pct at the last equivalent auction on May 7.

Appetite for Egypt's domestic debt has grown since the central bank floated its pound currency in November 2016 as part of a deal for a $12 billion International Monetary Fund loan.