The Central Bank of Egypt (CBE) will launch a tender for local treasury bills in US currency worth $1bn on Monday, with a maturity of one year, ending on 5 February 2025. The CBE received 31 bids worth $1.02bn for a similar tender in January worth $830m, of which it accepted 20 bids worth $850m, with an interest rate of 5.149%. Some investors asked for a return of up to 6.25% to subscribe to this tender, but the CBE rejected them. The subscription process for these dollar bills is the same as for the local currency bills. Each bank of the “main dealers” sends a subscription request to the CBE, stating the amount and the interest rate they want.

Source: Daily News Egypt February 04, 2024 17:13 UTC