Average yields on Egypt's 3- and 7-year T-bonds rise

CAIRO: The average yield on Egypt's three- and seven-year treasury bonds rose at an auction on Monday, central bank data showed.

The average yield on three-year bonds was 16.286 compared with 15.874 percent at the last auction on Nov. 13. The average seven-year bond yield increased to 16.192 from 15.955 percent.

Appetite for Egypt's domestic debt has risen since November 2016, when the central bank floated the pound currency. Since then, Egypt has raised key interest rates by 700 basis points.