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Egypt reduces size of T-bill sale
CAIRO : Egypt 's central bank sold 4 billion Egyptian pounds ($671.57 million) in domestic treasury bills on Sunday, pa
CAIRO: Egypt's central bank sold 4 billion Egyptian pounds ($671.57 million) in domestic treasury bills on Sunday, paring 1.5 billion pounds from the amount it had offered, Egypt's Finance Ministry said.
The central bank sold 2 billion pounds of 91-day T-bills, the same amount it had offered, on behalf of the ministry. The average yield rose to 12.930 percent from 12.053 percent at last issue on Sept. 6.
It sold only 2 billion pounds of 273-day T-bills, instead of the 3.5 billion pounds it had asked for. The average yield rose to 13.842 percent from 12.932 percent at the last issue on August 23.
Copyright Reuters, 2011
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