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The government has relied mainly on the local money market to finance its public deficit since a popular uprising in early 2011 that deterred many foreign investors.
Announcing thhe auction last Thursday, the central bank said it intended to sell $1.75 billion of dollar-denominated bills.
The sale rolls over an expiring T-bill, two traders at Egyptian banks and a government source said. Egypt last issued a dollar-denominated bill in June.
Last Monday it sold 734.3 million euros ($919 million) in euro-denominated one-year treasury bills, exceeding its plans to sell 650 million euros. The average yield was 1.894 percent.