Egyptian 91 days T-bill yield climbs for third week

CAIRO: The average yield on Egyptian 91-day T-bills inched up for a third week on Sunday, but the yield on 273-day bills declined, the central bank said.

The yield on the 91-day bills rose to 12.438 percent from 12.414 percent at last week's auction. The bank sold only 900 million Egyptian pounds ($147.47 million) of the bills compared to the 1 billion pounds it had offered.

The average yield on 273-day T-bills decreased to 13.122 percent from 13.973 percent at an auction two weeks ago, with the central bank selling 3 billion pounds of the bills, the same amount it had sought to sell.

The central bank sells the T-bills on behalf of the finance ministry.