Advertisement
|11 February, 2019

Egypt sells $1.014bln in one-year dollar T-bills - central bank

The auction will be settled on Feb 12.

Image used for illustrative purpose. A bank employee counts stacks of Egyptian 5 pound and 50 piastre notes as he works at Bank Misr in downtown Cairo, Egypt, June 8, 2016.

Image used for illustrative purpose. A bank employee counts stacks of Egyptian 5 pound and 50 piastre notes as he works at Bank Misr in downtown Cairo, Egypt, June 8, 2016.

REUTERS/Amr Abdallah Dalsh

Egypt sold $1.014 billion worth of one-year dollar-denominated treasury bills at an average yield of 3.797 percent on Monday, the central bank said.

The auction will be settled on Tuesday when dollar T-bills worth $1.075 billion are due to mature.

Egypt sold $854 million in dollar-denominated bills at an average yield of 3.797 percent in a similar auction on Jan. 6.

Advertisement

Officials say they are trying to diversify the country's sources of foreign debt and lengthen its average maturity.

(Reporting by Lena Masri Editing by Raissa Kasolowsky and Louise Heavens) ((Lena.Masri@thomsonreuters.com;))

More From Markets