Egypt sells 623.4mn euros in 1-year treasury bills: central bank

CAIRO: Egypt's central bank said on Monday it sold 623.4 million euros ($822.76 million) in one-year treasury bills, more than the amount it had offered to local banks and financial foreign financial institutions.

The average yield on the euro-denominated bills, which mature on August 25, 2015, is 1.981 percent.

The bank had offered to sell 550 million euros in one-year euro-denominated treasury bills for issue on August 26.

The government has turned mainly to the local money market to finance its public deficit since Egypt's popular uprising in early 2011 chased away most foreign investors.