Egypt cbank to offer 4 bln EG pounds in repos

Egypt's Central Bank said it will offer 4 billion Egyptian pounds ($671 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 1 billion pounds and not a single bank took up the offer.