Business & Finance
Egypt central bank accepts repos worth 6.2bn Egyptian pounds
CAIRO : Egypt 's central bank accepted 6.227 billion Egyptian pounds ($1.04 billion) in seven-day repurchase agreements
1 min
By
The bank had asked for 7 billion pounds. The repos carry a fixed rate of 9.25 percent.
The central bank introduced its weekly repo offerings on March 20 to keep short-term interest rates under control after the political and economic unrest that ousted President Hosni Mubarak on Feb. 11.
Copyright Reuters, 2011