Egypt cbank accepts repos worth 10bn Eg pounds

CAIRO: Egypt's commercial banks accepted 10.2 billion Egyptian pounds ($1.69 billion) in seven-day repurchase agreements in the money market on Tuesday.

The central bank said on Monday it was offering 12 billion pounds of the repos, which carry a fixed rate of 9.75 percent.

The central bank introduced its weekly repo offerings last March to manage short-term interest rates after the political and economic unrest that ousted President Hosni Mubarak.