Returns on EGP one-year treasury bills achieve 30% record-high: CBE

Returns on LE-denominated one-year bills reached a record high of 30.061 percent, according to data released by the Central Bank of Egypt in an auction on Thursday. The auction attracted significant interest from investors, with a total of 320 bids being accepted.

The average return on the bills stood at 29.913 percent, CBE data showed that banks and financial institutions submitted 387 offers with amounts estimated at LE 73 billion.

Treasury bills are defined as a government debt instrument issued for a period ranging from three months to one year. Therefore, it is considered a short-term investment tool.

The Ministry of Finance authorizes the CBE, throughout the fiscal year, to manage its own offerings of treasury bills and bonds in Egyptian pounds, provided that it finances and spends the proceeds on items in the state’s general budget for the current fiscal year.