The Central Bank of Egypt (CBE) withdrew EGP 787.7 billion in liquidity in Tuesday's open market auction.
The CBE announced, via data published on its website, that all applications submitted by 23 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 for open market operations, which the bank had previously conducted through a weekly fixed-rate tender.
The size of the operation to be conducted by the CBE is announced, and bids are accepted using an allocation method determined based on the percentage of the bid submitted by the bank to the total bids submitted, and the main operation price is applied.
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