Egypt sells 5.5bn EGP of T-Bills, yields rise

CAIRO: Yields rose at an auction of Egyptian treasury bills on Thursday, with the government selling 5.5 billion Egyptian pounds ($905.05 million) of 182-day and 357-day notes, the Central Bank of Egypt said.

The average yield on 2 billion pounds of 182-day bills maturing on Feb. 19, 2013, was 15.345 percent, up from 15.290 percent at the previous auction on Aug. 9. The range of yields was 15.0-15.392.

On the 3.5 billion pounds of 357-day bills sold, the average yield rose to 15.931 percent from 15.755 percent at the last auction on Aug. 2. The range of yields was 15.80-15.970.  The central bank sells the bills on behalf of the finance ministry.