Yield at Egypt T-bill auction rises, size trimmed

Egypt's central bank reduced the amount of 266-day treasury bills sold at an auction on Sunday as their yields increased, the Finance Ministry said.

The average yield on the bills rose to 15.802 percent from 15.386 percent at the last issue on Jan 10. The bank sold bills worth 1 billion Egyptian pounds ($165.5 million) instead of the 3.5 billion pounds it had originally offered.

The central bank sells the bills on behalf of the Finance Ministry.