Arab Finance: The Central Bank of Egypt (CBE), acting on behalf of the Ministry of Finance, increased its sale of the 273-day treasury bills (T-bills) for the fifth consecutive time, collecting EGP 61 billion on a January 19th auction, as per data by the central bank.

This represents a 52% rise from the EGP 40 billion initially targeted.

The move coincides with a decline in the average yield on nine-month bills, which fell by 0.62% to 26.06%, compared to 26.6% in the previous auction.

In contrast, the CBE significantly reduced the sale of three-month t-bills, raising only EGP 11.8 billion, 52% below the planned target of EGP 25 billion.

The decline followed a slight drop in the average interest rate for the shorter-term bills to 26.78%.

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