CBE repurchases LE1.1 billion in TBs
The Central Bank of Egypt injected LE1.1 billion this week through the repurchase of T-Bills to increase domestic liquidity. Consequently, the median overnight interbank rate dropped to 3 percent on January 25 from 8 percent on January 24.
The Ministry of Finance announced a 91-day T-bill auction with a total face value of LE600 million. The issue date is January 25 and the maturity date is April 26. The final date for bids was January 24. The Central Bank of Egypt announced the acceptable bids for its 91-day T-Bill auction, from which 53 out of 71 bids were accepted with a total face value of LE653.025 million.
The annual interest rate ranged between 9.002 percent and 9.140 percent, with an average of 9.091 percent.
Prime Securities S.A.E.
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