Today, Sunday, the Central Bank of Egypt offered treasury bills worth 40 billion pounds on behalf of the Ministry of Finance to bridge the deficit between revenues and expenditures.
The treasury bills offered today came in two tranches, the first amounting to 23 billion pounds for a period of 91 days, and the second for a period of 273 days for a term and a value of 17 billion pounds, according to bank data.
The Central Bank raised, during the last tender last Thursday, the average weighted return rates to 23.94% for the 6-month bills, and about 23.88% for the full-year bills.
On June 22, the Central Bank of Egypt will hold a meeting of the Monetary Policy Committee to discuss managed interest rates on bank funds, which it decided to fix during the last May round at 18.25% and 19.25% for one-night deposit and lending, respectively.
This article was originally published by RT.
