CAIRO: Egypt's central bank said it accepted 23 billion Egyptian pounds ($3.8 billion) in seven-day repurchase agreements in the money market on Tuesday, slightly less than the 23.47 billion pounds that commercial banks had sought.

The repos carry a fixed rate of 9.75 percent.

The central bank introduced weekly repo offerings in March 2011 to manage short-term interest rates after the political and economic unrest that ousted President Hosni Mubarak.