Foreigners purchase EGP600mn of T-bills at Sunday’s auction
Foreigners have reportedly purchased EGP600mn (USD33mn) worth of three-month and nine-month treasury bills at Sunday’s auction, at which the Ministry of Finance sold EGP5.7bn of the three-month notes and EGP5.3bn of the nine-month notes. Yields rose at the auction. Average yield on the three-month notes rose 19.431% from 19.388% at the previous action, while on nine-month notes 19.229% from 19.078%. Head of Public Debt at the Ministry, Samy Khallaf, said foreign investors’ holdings of Treasury bills had almost tripled since January, reaching EGP60.8bn (USD3.3bn) as of 14 March from EGP22bn at January-end.
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