Egypt sells short-term treasury bills at all-time high value of $3.2bn

RIYADH: The Central Bank of Egypt sold three-month treasury bills at an all-time high value, amounting to 61.8 billion Egyptian pounds ($3.2 billion), in an auction. 

The central bank data revealed that banks and institutions offered an amount of 170.8 billion Egyptian pounds for the short-term bills in the tender, according to Arabic newspaper Asharq.

The bank issues periodic weekly bids on behalf of the Ministry of Finance in order to finance the country’s general budget deficit.