Average yields fall on Egypt's five- and 10-year T-bonds

CAIRO- 28 Aug 2017: Average yields on Egypt’s five- and 10-year treasury bonds fell at an auction on Monday, central bank data showed.

The average yield on the five-year bonds fell to 16.749 percent from 17.001 percent at the last similar auction on Aug. 14. The yield on the ten-year bonds fell to 16.750 percent from 17.130 percent.

Appetite for Egypt’s domestic debt has increased since November when the central bank floated the pound currency as part of a $12-billion International Monetary Fund programme aimed at boosting the economy.

The central bank has raised interest rates by 700 basis points since the float.