The Central Bank of Egypt (CBE) will launch a tender for one-year treasury bills denominated in the American currency, at a value of $540m, on Monday. The proceeds of this tender will be used to pay off a previous tender that was offered on 7 June 2022, through which the Central Bank obtained $565.1m. The Central Bank had received 23 bids worth $1.076bn to cover a similar tender that it put out on 1 May at a value of $1bn. According to Central Bank data, on its website, the bank accepted 20 bids at a value of $1.0076bn, with interest ranging between 4.899% as the lowest price, 4.9% as the highest price, and 4.9% as the average. The Central Bank allows local and foreign institutions to subscribe to those bills, with a minimum subscription of $100,000 and its multiples.

Source: Daily News Egypt June 05, 2023 00:09 UTC