Average Yields Drop On Egypt's Three- and Nine-Month T-Bills

Average Yields Drop On Egypt’s Three- and Nine-Month T-Bills

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Monday, September 11th, 2017

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Reuters Staff 1 Min Read People and vehicles are seen caught in a traffic jam in front of the Central Bank of Egypt's headquarters in downtown Cairo, Egypt, December 21, 2015. Picture taken December 21, 2015. REUTERS/Amr Abdallah Dalsh — People and vehicles are seen caught in a traffic jam in front of the Central Bank of Egypt’s headquarters in downtown Cairo, Egypt, December 21, 2015. Picture taken December 21, 2015. REUTERS/Amr Abdallah Dalsh

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.

(Editing by Elaine Hardcastle)

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