Markets
Print edition: 2017-12-26
Average yields on Egyptian three and seven-year T-bonds fall
1 min
The average yield on Egypt's three-year and seven-year treasury bonds fell at an auction on Monday, central bank data showed. The average yield on three-year bonds was 15.542 percent, compared with 16.094 percent at the last auction on November 11. The average seven-year bond yield fell to 15.554 percent from 16.114 percent.
Egypt has raised key interest rates by 700 basis points since November 2016 when it floated the pound currency to secure a $12 billion International Monetary Fund loan aimed at reviving its economy. The hike in the rates has encouraged investors to buy up Egypt's debt.
Copyright Reuters, 2017
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No content from Business Recorder shall be reproduced, published, broadcast, rewritten for broadcast or publication, or redistributed directly or indirectly in any medium.
Business Recorder shall not be responsible or held liable for any error of fact, opinion or recommendation and also for any loss, financial or otherwise, resulting from business or trade or speculation conducted, or investments made, on the basis of the information posted here. Nor shall Business Recorder be held liable for any actions taken in consequence." >Copyright Reuters, 2017