Egypt c.bank accepts repos worth 1.3 bln Eg pounds

Egypt's central bank accepted 1.253 billion Egyptian pounds, the whole amount that was offered, in seven-day repurchase agreements in the money market (CBES) on Tuesday. The bank had asked for 3 billion pounds. The repos carry a fixed rate of 9.25 percent. The central bank introduced its weekly repo offerings on March 20 to keep short-term interest rates under control after the political and economic unrest that ousted President Hosni Mubarak on February 11.