Egypt central bank sells €609.8 mln in euro-denominated T-bills

The number of bids submitted for tender was about 28 worth around 729.8 million euros, with a minimum yield of 3.7 percent, a maximum yield of 4.7 percent, and a weighted average yield of 3.894 percent.

The 21 accepted bids amounted to 609.8 million euros, with a minimum yield of 3.740 percent, a maximum yield of 3.750 percent, and a weighted average yield of 3.750 percent.

The CBE had initially issued 600 million euros in euro-denominated T-bills, with a 364-day maturity period. 

Furthermore, the central bank has taken various steps to increase its international reserve to resolve the problem of foreign currency shortage.  

In January, the bank issued $830 million in USD-dominated T-bills, with a one-year maturity period.

In November and December 2023, it issued $990 million and $1.61 billion in USD-denominated T-bills. 

Additionally, the CBE auctioned 645 million euros in T-bills in November 2023, following a 600 million euros issuance in August 2023.