Average yields drop on Egypt’s three- and nine-month T-bills

CAIRO   – Average yields on Egypt’s three-month and nine-month treasury bills fell at an auction on Sunday, data from the central bank showed.

The average yield on the 91-day bill slipped to 18.976 percent, from 19.501 percent at the last similar auction and the yield on the 266-day bill fell to 18.661 percent from 19.356 percent.

Demand for Egypt’s domestic debt has grown since the central bank raised key interest rates by 2 percentage points in July, its third increase since the country floated its currency in November last year. (Reuters)

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