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| 20 November, 2017

Egypt sells $1.728bln in one-year dollar-denominated T-bonds in auction- c.bank

Image for illustrative purpose.
Traders work at the Egyptian stock exchange in Cairo.

Image for illustrative purpose. Traders work at the Egyptian stock exchange in Cairo.

REUTERS/Mohamed Abd El Ghany

Egypt has sold $1.728bln in one-year dollar-denominated treasury bonds to local and foreign financial institutions.

CAIRO- Egypt has sold $1.728 billion in one-year dollar-denominated treasury bonds to local and foreign financial institutions in an auction, the central bank said on Monday.

The average yield for the bills, which mature on Nov. 20 2018, was 3.496 percent.

Appetite for Egypt's domestic debt has grown since the central bank floated the pound currency in November 2016 as part of a deal for a $12 billion International Monetary Fund loan.

(Reporting by Eric Knecht; Writing by Nadine Awadalla; Editing by Toby Chopra) ((Nadine.Awadalla@thomsonreuters.com;))