The Central Bank of Egypt (CBE) will issue on Monday US dollar-denominated treasury bills (T-bills), worth $850m for a year, due on 2 January 2024. The CBE uses the proceeds of this T-bills bid to pay the value of a previous bid submitted by the bank on 4 January 2022 at a value of $852.9m. The Central Bank of Egypt had received 22 offers at a value of $1.140bn to cover a similar bid it put out on 5 December, at a value of $990m. According to the Central Bank’s data, on its website, the bank accepted 16 of those offers at the same offering value. It is noteworthy that the CBE allows subscribing to these T-bills for both local banks and foreign institutions, with a minimum subscription of $100,000 and its multiples.

Source: Daily News Egypt January 01, 2023 21:50 UTC