CBE Withdraws Liquidity worth EGP 639.150 Billion through Open Market

Taarek Refaat

The Central Bank of Egypt (CBE) withdrew EGP 639.150 billion in liquidity in the open market auction on Tuesday.

The CBE said in data published on its website that all requests submitted by 27 banks were accepted at an interest rate of 27.75%.

The CBE had issued new instructions regarding the rules governing the main operation for linking deposits (Main Operation) for open market operations that the bank was conducting by operating a fixed-rate tender on a weekly basis, where the size of the operation that the CBE will conduct is announced, and bids are accepted using the allocation method that is determined based on the percentage of the bid submitted by the bank to the total bids submitted, and the main operation price is applied to it.

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