The Finance Ministry auctioned on Thursday Treasury bills (T-bills) at a total value of EGP 19 billion.
The ministry said in a statement that it auctioned 182-day T-bills for EGP 9.25 billion with an average yield of 17.959%, adding that it accepted bids at rates between 17.7% and 18.009%.
As for the 364-day T-bills, worth EGP 9.750 billion, they achieved average revenues of 17.496%, the ministry said, adding it accepted bids at rates between 17% and 17.55%.
Earlier, Egypt’s deputy finance minister Ahmed Kajuk said that foreign net investments in government debt had reached $ 19.2 billion as of mid-June.
The CBE issues bills every Thursday and Sunday on a weekly basis. Bills are offered in four different maturity dates to help finance the budget deficit, and government banks are their biggest buyers.