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Egypt cbank accepts repos worth 2.3 bln Eg pounds

Egypt's central bank accepted 2.3 billion Egyptian pounds in seven-day repurchase agreements in the money market (CBES) on Tuesday.
04.10.11 | Source: Next

Egypt's central bank accepted 2.3 billion Egyptian pounds in seven-day repurchase agreements in the money market (CBES) on Tuesday, the whole amount that was offered.

The bank had asked for 6 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.

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