Egypt’s Central Bank to issue dollar-denominated T-bills next week

The Central Bank of Egypt (CBE) is set to issue dollar-denominated treasury bills (T-bills) worth $1 billion for a year, on February 6, 2023.

On Wednesday, the CBE offered three-year treasury bonds with a variable interest rate linked to the bank’s deposit, lending, and credit rates currently stand at 16.25%, 17.25%, and 16.75%, respectively.

According to experts, the step reflects the Central Bank of Egypt’s desire to respond to investors’ expectations that interest rates will take an upward curve during the coming period.