Egypt cbank to offer LE6 bln in repos

Egypt's central bank said it will offer 6 billion Egyptian pounds in eight-day repurchase agreements in the money market on Tuesday at a fixed rate of 9.25 per cent.

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 asked for repos worth 8.825 billion pounds and accepted 2.66 billion pounds.