Arab Finance: Some international investment banks, including Goldman Sachs, Citibank, and Morgan Stanley, resumed investing in Egypt’s government debt instruments, a government official told Asharq Business.
The Central Bank of Egypt (CBE) has sold one-year treasury bills (T-bills) worth EGP 87.8 billion in an auction at an average interest rate of 32.303%.
Furthermore, the CBE has sold a further EGP 14.2 billion worth of T-bills in a sixth-month auction, Reuters reported.
In the two auctions, international investors submitted bids valued at $2.26 billion, however, the CBE accepted $825.2 million of total bids.