Egypt cbank to offer 1 bln EGP in repos on Tuesday

Egypt's central bank said it will offer 1 billion Egyptian pounds ($167.95 million) in seven-day repurchase agreements in the money market on Tuesday at a fixed rate of 9.25 percent CBES.

The central bank introduced the weekly repo agreements in March to keep short-term interest rates under control after a popular uprising ousted President Hosni Mubarak.

Last week it offered repos worth 6 billion pounds and accepted the same amount it had offered.