Several international and local financial institutions have offered to invest $934.1m in the Egyptian USD-denominated treasury bills (T-bills), floated by the Central Bank of Egypt (CBE) on Sunday. The CBE has offered the tender on behalf of the ministry of finance, worth $750m. The CBE received 30 bids for investment by local and international banks, as well as financial institutions, worth of $934.1m, and accepted 25 offers worth $854.1m. In 2018, the CBE offered six USD-denominated T-bill tenders and obtained $5.926bn. Furthermore, the CBE allows banks to buy Egyptian USD-denominated T-bills to both local banks and foreign institutions with a minimum subscription of $100,000 and its multiples.

Source: Daily News Egypt January 07, 2019 21:11 UTC